EU in ‘early stages’ talks with US, but finalising list of countermeasures after steel and aluminium tariffs
Šefčovič says the EU is “in early stages of discussions” with the US, complicated “because the US view tariffs not as a tactical step, but as a corrective measure.”
But he says that “ while the EU remains open to and strongly prefers negotiations, we will not weigh endlessly until we see tangible progress.”
The EU has prepared a “robust list of countermeasures” on steel and aluminium after receiving feedback from over 600 stakeholders.
“After carefully reviewing all of it, we have worked to table a robust list of countermeasures, while balancing the burden across all member states, we will be sending the final list and tariff levels to them later today,
The vote is set for 9 April, with the final list adopted on 15 April, and then duties on products will kick in on that day for the first set of measures, and on 15 May for the remaining ones.”
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Key events
15m ago
Closing summary
24m ago
Global effects of US tariffs ‘could be profound,’ UK’s Starmer says
51m ago
‘Clear difference of opinion’ on figures with US, EU trade commissioner says
1h ago
‘Black day for markets’ with biggest ‘paradigm shift’ since WW2, EU trade commissioner says
2h ago
New US tariffs ‘force’ EU to look to respond
2h ago
EU in ‘early stages’ talks with US, but finalising list of countermeasures after steel and aluminium tariffs
2h ago
EU trade with US ‘in tough spot,’ EU trade commissioner says
2h ago
EU ‘ready to negotiate’ with US with offer of zero tariffs on industrial goods, but planning how to defend interests, von der Leyen says
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6h ago
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6h ago
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6h ago
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6h ago
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6h ago
‘All options on table right now’ on countermeasures, Swedish trade minister says
7h ago
Talks on how to position Europe in response to ‘paradigm shift’ in global trade, EU commissioner says
7h ago
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7h ago
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7h ago
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7h ago
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8h ago
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8h ago
We need ‘calm, measured response’, Ireland’s minister says
8h ago
Morning opening: Forget markets for a second
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Closing summary
Jakub Krupa
… and on that note, it’s a wrap from me, Jakub Krupa, for today.
EU trade commissioner Maroš Šefčovič said the EU-US trade was “in a tough stop” but he hoped the EU and EU would “sooner or later” end up at a negotiation table, as he hoped for a negotiated solution to prolonging uncertainty surrounding US president Donald Trump’s tariffs (16:18).
But the Slovak politician admitted that “until now, despite of efforts … we haven’t seen the real engagement which would lead to the mutually acceptable solution” from the US side (16:12), as he warned that the Trump administration seemed to be determined to send an ideological signal to markets (16:30).
Šefčovič also spoke about a “clear difference of opinion” on figures in EU-US trade, arguing it it is wrong to look at trade in goods in isolation, without services, mutual investment, and other instruments.
European Commission president Ursula von der Leyen earlier said that “Europe is always ready for good deal,” but signaled the bloc was “also prepared to respond through countermeasures and defend our interests” (15:00).
Outgoing German economy minister Robert Habeck offered a brutal takedown of the US tariffs, saying the underlying calculations were “nonsense,” and “wrong,” as he urged US to “stop the nonsense … the mess you have made in the last week” (11:12).
And that’s all from me, Jakub Krupa, for today.
If you have any tips, comments or suggestions, email me at jakub.krupa@theguardian.com.
I am also on Bluesky at @jakubkrupa.bsky.social and on X at @jakubkrupa.
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Global effects of US tariffs ‘could be profound,’ UK’s Starmer says
British prime minister Keir Starmer spoke about US tariffs this afternoon too, warning that global consequences of Trump’s move “could be profound.”
Nobody is pretending that tariffs are good news. You know that better than anyone – 25% tariffs on automotive exports and 10% on other goods, that is a huge challenge for our future, and the global economic consequences could be profound.
Starmer said we live in a new era, where the old assumptions don’t apply any more, that he calls the age of insecurity.
For more on his comments and the UK’s plans, see Andrew Sparrow’s UK live blog here:
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‘Clear difference of opinion’ on figures with US, EU trade commissioner says
In response to the final question of the conference, Šefčovič says the EU and the US have “a clear difference of opinion” about the figures as he says it is wrong to look at trade in goods in isolation, without services, mutual investment, and other instruments.
In a hint at a potential US vulnerability, he adds: “I’m not even going into the direction of billions the US companies are generating from online advertising and different digital services that they’re offering in Europe.”
He eventually says that the actual deficit that would need rebalancing is not higher than 50 billion euros.
“If we know that this is the issue, I think then we can sort it out very quickly.
But my feeling is that at this stage it is more of a, I would say, decision of US administration to … transform the global trading system, and they see the tariffs as a corrective measures for many of the political goals, which I’m sure the US administration can describe much better, much better than I [can.”
They conclude the press conference here.
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‘Black day for markets’ with biggest ‘paradigm shift’ since WW2, EU trade commissioner says
Šefčovič says he sees today’s market reactions as “a kind of black day for the markets … all over the world,” saying ministers described it “as the most important paradigm shift in global trading patterns since the second world war.”
“This introduces a lot of uncertainty, lack of predictability, inflation fears and the fact that tariffs are, in the end, the taxes which will be paid by the businesses, but especially by the final consumers,” he says.
He says the tariffs prompted fears among consumers on spending, inflation, jobs, and future prospects.
“So these are the I would say the debates which are now taking place, I would say all across the world … and I’m not even going to tell you [about] the distressed phone calls we are getting from emerging economies and from the developing countries,” he says.
He repeats that the EU will be “careful” and respond in a “measured and well calibrated way.”
“We know what kind of impact this might have on the real economy and on the people, and therefore you see that we are really progressing step by step in this regard.
But I wouldn’t dare to speculate if it would have an impact on decision making across the Atlantic.”
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On a slightly more upbeat note, Šefčovič says that he hopes that “sooner or later, we’ll be sitting at the negotiating table … and I hope that we’ll be able to arrive at the mutually acceptable compromise, which would restore our close trading relationship.”
He says the focus in any such talks would be on “looking at the ways how to lower or get rid of the tariffs … on cars and industrial goods in February, and we would focus our efforts on that effort, how to create this transatlantic marketplace for industrial goods, for the technologies of the future and for the good cooperation between two transatlantic allies.”
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Šefčovič says the EU remains “prepared to engage” and says the bloc’s preference would be to find a negotiated solution.
But he then says that “until now, despite of efforts … , we haven’t seen the real engagement which would lead to the mutually acceptable solution, because it has to be fair for both sides.”
He says that there are questions from the US on VAT – which was repeatedly criticised by Trump – but he says the EU would not be prepared to change its rules.
He then adds that:
“We are ready to discuss, to look at things, but it has to be a mutually advantageous solution.”
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Updated at 10.12 EDT
EU trade commissioner Šefčovič says the EU’s timeline on countermeasures on steel and aluminium is driven by legal analysis.
But he adds “it is not possible now to delay the entry into force” as some countries, such as Italy, appeared to be asking for it.
“We expect the vote on Wednesday and if the vote is positive, then we will proceed with 15 April,” he says.
More broadly, he says “we are ready to consider all options.”
“All options are on the table, and we will consult with the stakeholders and with our member states, how to use all the instruments we have at our disposal,” he says.
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Šefčovič gets asked about the proposed “zero-for-zero” tariff deal with the US, and the reception it got from the US.
The Slovak politician says it was floated in his first meeting with US commerce secretary Howard Lutnick.
He says the US focus appears to be on “Big Five” areas: cars, pharmaceutical, metals, lumber and semiconductors.
Šefčovič says the EU was ready to change rules on personal vehicles and find a deal, with a “zero-for-zero” deal, and potentially extending it to other industrial products.
“I hope that in future we would be ready to come back to this discussion, not now. [but] I believe that in the future this would be still the possibility,” he says.
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New US tariffs ‘force’ EU to look to respond
Šefčovič says that while the focus so far has been on finalising steel and aluminium countermeasures, the announcement of the new “so-called reciprocal tariffs … forces us to look at additional steps.”
“We got some valuable input from the member states, from the ministers, which we of course, evaluate, and we will proceed, as always, in the close consultations with our member states and with the key stakeholders,” he says.
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EU in ‘early stages’ talks with US, but finalising list of countermeasures after steel and aluminium tariffs
Šefčovič says the EU is “in early stages of discussions” with the US, complicated “because the US view tariffs not as a tactical step, but as a corrective measure.”
But he says that “ while the EU remains open to and strongly prefers negotiations, we will not weigh endlessly until we see tangible progress.”
The EU has prepared a “robust list of countermeasures” on steel and aluminium after receiving feedback from over 600 stakeholders.
“After carefully reviewing all of it, we have worked to table a robust list of countermeasures, while balancing the burden across all member states, we will be sending the final list and tariff levels to them later today,
The vote is set for 9 April, with the final list adopted on 15 April, and then duties on products will kick in on that day for the first set of measures, and on 15 May for the remaining ones.”
Share
EU trade with US ‘in tough spot,’ EU trade commissioner says
EU trade commissioner Maroš Šefčovič says that the EU’s trade situation with the US is “in a tough spot.”
He says that “70% of our total exports are facing tariffs of 20% of 25% or even higher.”
He acknowledges recent meetings with his US counterparts, as he says the two sides agree that “the EU-US trade relationship could benefit from a fresh look and a boost in strategic areas,” noting both markets “face similar challenges.”
He repeats von der Leyen’s comment from last half hour that the EU “we have offered zero for zero tariffs for cars and all industrial goods.”
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Opening the briefing after the ministerial council on trade, Polish deputy economy minister Michał Baranowski says “the message that came out from the council is very much a message of unity.”
“It’s very clear that there are no winners, and this was something that was emphasised by all the member states. All of us would prefer a negotiated solution that takes us away from the potential trade war that can lead to a loss of jobs, lead to loss of wealth,” he says.
He says that the EU has a “prepared response” on steel and aluminium which will be put forward “soon”, but stressed that, at the moment the bloc is not focusing on “the so called reciprocal tariffs.”
He says he describes them as “so calls reciprocal tariffs” as “the methodology used by the US side is not yet entirely clear to us.”
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EU ‘ready to negotiate’ with US with offer of zero tariffs on industrial goods, but planning how to defend interests, von der Leyen says
As we wait for the press conference after the ministerial meeting, European Commission president Ursula von der Leyen shared her views on US tariffs, as she welcomed Norwegian prime minister Jonas Gahr Støre to Brussels.
European Commission president Ursula von der Leyen, right, and Norway’s prime minister Jonas Gahr Store address journalists during a media conference at EU headquarters in Brussels. Photograph: Virginia Mayo/AP
She said that the US tariffs “come … at immense costs for US consumers and businesses,” as she insisted the EU “stand ready to negotiate with the United States.”
“Europe is always ready for good deal. So we keep it on the table,” she said, adding the EU “offered zero for zero tariffs for industrial goods, … because Europe is always ready for good deal.”
But she added the EU was “also prepared to respond through countermeasures and defend our interests,” as it looked to step up its protection against “indirect effects [of] trade diversion.”
Von der Leyen said she engaged with key industrial stakeholders across the bloc to consult on next steps.
She also stressed that the EU should work on “strengthening our single market [by] getting rid of remaining barriers” in response to tariff disruptions.
EU ready to talk to US about tariffs but prepared to defend interests, says von der Leyen – videoShare
Updated at 10.28 EDT
