EU Trade Commissioner, Maroš Šefčovič has defended the trade deal agreed between the bloc and the US.
Speaking at a press conference, Šefčovič noted that the deal “brings renewed stability and opens door to strategic collaboration.” He stated that it’s important to “pause … and consider an alternative.”
“A trade war may seem appealing to some, but it comes with serious consequences. With at least a 30% tariff, our transatlantic trade would effectively come to a halt, putting close to 5 million of jobs, including those in SMEs in Europe, at grave risk.”
Maroš Šefčovič
He said that businesses wanted to “avoid escalation and work towards a solution that delivers immediate relief.”
Šefčovič also highlighted what he sees as positives of the deal – including on steel, cars and future technologies – and confirmed that he briefed the member states and members of the European Parliament earlier today.
“All in all, this is an agreement which should generate meaningful and mutual benefits, and I hope it will be a stepping stone to a broader EU US trade and investment agreement in the future.”
Maroš Šefčovič
He noted that the EU’s view is that 15% is “acceptable” if it is “inclusive,” meaning with no stacking tariffs and further changes.
He stated that politically the two sides are “opening a new chapter” and “understand each other’s sensitivities, perspectives” better after these negotiations.
Additionally, Šefčovič talked about the energy part of the deal, saying that given the EU “will be phasing out the Russian energy supply by 2027, it is very clear that Europe will need to solid, consolidated and reliant supply of energy,” not just LNG, but also oil and nuclear. He also stressed that the importance of working with the US on developing technologies, including high-quality chips for AI.
Reactions from Europe over the Trump tariff deal have inevitably been mixed, with some breathing a sigh of relief that there is finally a concrete figure to work with, but others decried the deal.
French Prime Minister, François Bayrou joined the growing list of European leaders expressing their less-than-enthusiastic reactions to the EU-US trade deal.
“Von der Leyen-Trump Agreement: it is a sombre day when an alliance of free peoples, united to affirm their values and defend their interests, resigns themselves to submission.”
François Bayrou
Hungary’s Prime Minister, Viktor Orbán, has long been one of the most divisive voices within the EU, and he wasted no time in criticising European Commission President Ursula von der Leyen for what he described as a worse deal than the UK managed to secure.According to a news agency, Orbán told a podcast, “This is not an agreement.”
“… Donald Trump ate Von der Leyen for breakfast, this is what happened and we suspected this would happen as the US President is a heavyweight when it comes to negotiations while Madame President is featherweight.”
Viktor Orbán
Spanish Prime Minister, Pedro also responded to the EU-US agreement, saying wearily that he supports the deal “without any enthusiasm.”
Šefčovič Responds To Criticism From Member States
Responding to some criticism coming from the member states, Šefčovič warned them that the world as we knew it before April, and Trump’s new trade policy, “is gone.”
He said that the EU needs to adjust and a strategic deal with the US is the best possibly option. He repeated that 30% tariffs, the default scenario without the deal, would put companies under dramatic pressure and lead to substantial job losses, potentially eventually putting the EU to negotiate in worse circumstances.
The EU Trade Commissioner said that it is the best deal the bloc could get “under very difficult circumstances.” Šefčovič noted that the conversation with the US yesterday started with a 30% tariff threat.
He added that the deal was not only about trade, but also about broader security, Ukraine, and joint response to growing geopolitical volatility through keeping the US on side in future talks. “I’m 100 percent sure that this deal is better than a trade war with the United States,” he said.
