The EU calls for us a trade transaction based on “respect” after Trump’s tariff threats

The head of the European Union said that the 27-member unit seeks to provide a trade agreement with the US on the basis of “respect” no “threat”.

This comes after US President Donald Trump threatened to hit 50% tariff for all goods sent to the US with the EU.

“The EU is fully involved, seeking to provide a transaction that works for both,” said EU Commissioner Moros Sefkovich, after calling with the US trade representative Jamiyen Grira and the secretary of trade Howard Lutnik.

“The EU’s trade does not have equal and should be guided by mutual respect, not threats. We are ready to defend our interests.”

Earlier on Friday, Trump expressed his impatience at the time of the current trade talks in the EU, saying that his plan for raising tariffs was established on June 1.

Having placed his social platform of truth, Trump said: “Our discussions with them (the EU) do not go anywhere,” adding that there will be no tariffs in the US, built and manufactured.

“I am not looking for a deal – we have made a deal,” he told reporters later before adding that a big investment in the US European company could make it open for delay.

The EU is one of the largest trading partners in Washington, sending more than $ 600 billion (528 billion euros; £ 443 billion) in goods last year and buying $ 370 billion.

Responding to Trump’s threats, European governments warn that higher tariffs will harm both parties.

“We don’t need to go down this road. Negotiations are the best and only sustainable way forward,” said the Taiz (Prime Minister) of Ireland Michel Martin.

“We support the same line: de-escalation, but we are ready to answer,” said French Foreign Minister Laurent Saint-Martin.

German Economy Minister Ekaterina Reiche said “we must do everything to make sure the European Commission will agree on negotiations with the United States.”

Dutch Prime Minister Dick Schuuu told reporters that he supports the EU strategy in trade negotiations and “we saw before tariffs could go up and down at the US negotiations.”

Last month, Trump announced a 20% tariff for most EU goods, but halved it by 10% by July 8 to allow time to get additional negotiations.

Trump’s complaints to Europe have focused on its unequal trade relations because the EU sells more goods than buying from America.

He accuses this trade deficit in politics, which, he said, undoubtedly relate to US companies, and he specifically has caused concern about cars and agricultural policies.

Trump also warned Apple that it will impose 25% of the “at least” import tax on iPhones that are not produced in America, later expanding the threat to any smartphone.

The stock in the US and the EU fell on Friday after the last threats, and the S&P 500 decreased by 0.7%, and the DAX Germany and France CAC 40 ended the day by more than 1.5%.