The European discussion on tariffs and the "questionable" new American proposal

From what we understand, the proposal that the American president has made to Brussels on duties is not exactly an olive branch. Not only does a minimum threshold of 10% of duties on European products appear inevitable, but it also calls for increased purchases of LNG and critical materials, including nuclear fuel.

An EU-CPTPP (Comprehensive and Progressive Agreement for Trans-Pacific Partnership, ed.) agreement can be thought of "as the beginning of a redefinition of the World Trade Organization. Of course, thinking about what the format should be in a positive sense, to avoid the mistakes made in the past and show the world that free trade with a large number of countries is possible if there are rules at the base". This was stated by the President of the EU Commission, Ursula von der Leyen, during the press conference at the end of the EU Council meeting. The reference is to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, the free trade agreement between 12 Asian countries . Among all the countries interested in consolidating free trade agreements with the EU, its members stand out, who "want structured cooperation with the EU". This is why the Commission is studying the possibility of an agreement with the CPTPP, a hypothesis that von der Leyen presented to European leaders.

"An agreement is always better than a conflict and zero tariffs are always better than any duty. Uncertainty is the worst thing for the economy and we must work to give certainty to workers and businesses". This was stated by the President of the European Council, Antonio Costa , in a press conference at the end of the European summit. "We are fully confident in the Commission's ability to carry forward this negotiation", he reiterated.

"The truth is that the best possible 'tariff situation' between the United States and Europe is zero tariffs. If it has to be 10%, that's how it will be." This was stated by French President Emmanuel Macron at the end of the EU summit, stressing that "if in the end the United States decides to maintain a 10% tariff against our economy, a compensatory measure on American products sold on the European market will be inevitable."

"Today we received the last US document for further negotiations. We are assessing it right now. So our message today is clear: we are ready for an agreement. At the same time, we are preparing for the eventuality that a satisfactory agreement is not reached, which is why we have launched a consultation on a rebalancing list and will defend European interests as needed. In short, all options remain on the table," said European Commission President Ursula von der Leyen at a press conference following the European Council.

"I have full and complete confidence in Ursula von der Leyen and Sefcovic in their ability to negotiate an agreement on tariffs," said Spanish Prime Minister Pedro Sanchez at the end of the European Council.

"We have spoken extensively about the issue of tariffs and America. We have encouraged the President of the Commission to quickly reach an agreement, an understanding with the Americans, in the less than two weeks available. However, if an agreement is not reached with America, if an agreement on tariffs is not reached, the European Union is ready and able to take appropriate measures on its own". This was stated by German Chancellor Friedrich Merz speaking to the press at the end of the EU summit in Brussels.