EU Weighs Trade Strategies Against US Tariffs

The European Commission is engaging with sectors affected by U.S. tariffs, seeking to explore potential trade partnerships and countermeasures. A meeting, led by industry chief Stephane Sejourne, will discuss the impact on industries like steel and autos, aiming to devise strategies to mitigate tariff effects.

The European Commission has summoned industry leaders from sectors hit hardest by U.S. tariffs to a critical meeting on Thursday. This move aims to scrutinize new trade alliances and possible countermeasures.

Chaired by industry chief Stephane Sejourne, the discussion will include representatives from the steel and automotive sectors. The session arrives in the wake of prior calls by Commission President Ursula von der Leyen, who consulted industry executives in metals, pharmaceuticals, and autos to gather insight on the short and medium-term impacts of tariffs. The commission is exploring effective responses, including sector-specific policies and various countermeasures.

With the U.S. imposing targeted tariffs on steel, aluminum, and vehicles, the European Commission is particularly concerned about potential duties on products like pharmaceuticals, copper, semiconductors, lumber, energy products, and certain minerals that may reverberate through supply chains. The meeting is designed as a forum for collaboration on mitigating strategies, whether through free trade agreements or new partnerships.

(With inputs from agencies.)