They will discuss the same things they have been discussing in recent weeks, namely the EU's and the USA's trade relations and – from our side – why we should strive as much as we can on both sides to avoid harmful tariffs and instead build up rather than tear down the trade relation that is the strongest in the world, said the EU Commission's spokesperson on trade issues Olof Gill at a press briefing in Brussels on Monday.
New Round of Tariffs
The new round of tariffs that Donald Trump has announced for April 2 is expected to be a kind of punitive tariffs. It may include tariffs on countries that impose VAT on goods from the USA, which according to Trump can be seen as trade barriers.
However, since the weekend, the market has seen signs that the tariffs on April 2 will not be as extensive as previously feared, which has increased risk appetite somewhat.
The EU Commission has, in response to this new tariff announcement from Trump, paused a previously announced response to the 25-percent tariffs on steel and aluminum that Trump has already introduced, until mid-April.
The paused EU response included, among other things, 50-percent tariffs on bourbon from the USA, as well as tariffs on other American goods, to a total value of 26 billion euros. The response can, however, be complemented if new US tariffs on EU goods are introduced on April 2.
To China at the End of the Week
Sefcovic is reported to be heading to China at the end of the week after meeting with representatives of the Trump administration in the USA on Tuesday.
News agencies are simultaneously reporting on talks about a trade agreement between the UK and the USA. According to the British Prime Minister Keir Starmer's office, progress has been made on the issue in a phone call between Starmer and Trump over the weekend.
