President Trump’s tariffs could have serious consequences, warned EU Trade Commissioner Cecilia Malmström during a press conference in Brussels on Friday, as she called into question the will of the United States to negotiate. “We never set around the negotiating table. We said they should lift the threat of tariffs and that we should sit together to discuss the situation, but that did not happen,” she said, adding that the door to trade negotiations with the US is closed at the moment.
EU leaders presented a united front on Friday but it remains to be seen how hard the EU will fight back as member states hold differing views on the extent of “balanced countermeasures”. The US threat of car tariffs further complicates matters as such a move would badly hit Germany’s auto industry and there is already speculation that Berlin will want to negotiate with Washington. If that is the case, Ms Malmström will need to change strategy, writes Dagens Nyheter.
Meanwhile, Jacob Wallenberg, chair of Investor, warns that the American approach could lead to an “evil circle of escalating measures and counter-measures, which will complicate a negotiated solution”.
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