EU Strives for Trade Harmony with US, Keeps Countermeasures Ready

The European Union aims for a negotiated trade solution with the United States but is prepared to implement countermeasures if talks fail. EU Commissioner Valdis Dombrovskis emphasized deepening partnerships globally and maintaining economic security. The EU has agreements with numerous countries and seeks further collaborations.

The European Union is striving for a negotiated trade solution with the United States, but is prepared to introduce countermeasures if discussions falter, revealed European Union Commissioner for the Economy Valdis Dombrovskis during a visit to Washington.

At the IMF and World Bank spring meetings, Dombrovskis expressed the EU's willingness to boost purchases of US LNG and reduce tariffs on specific goods, while seeking clarity on US expectations. He affirmed the EU's commitment to its valuable economic and trade partnership with the US, valued at $9.5 trillion.

The EU aims to preserve its existing partnerships and establish new global ones to bolster economic security. The EU has existing trade agreements with 76 countries and continues to negotiate new deals, including with nations like India and the UAE, to establish reliable, rules-based partnerships. EU leaders have avoided harsh rhetoric amidst US critiques, opting for dialogue to ensure stable trade relations.

(With inputs from agencies.)