FT: EU wants to increase imports of US goods by €50 billion to avoid tariffs
The European Union wants to increase purchases of American goods by 50 billion euros, which will reduce tensions in trade relations with the United States, European Commission Vice President Maroš Šefčovič said, the Financial Times reports.
Šefčovič stressed that the European Union is making "some progress" on the path to concluding a trade deal with the US, but warned that it will be "very difficult."
According to him, Brussels is ready to buy more American gas and agricultural products, including soybeans, to reduce the trade deficit by 50 billion euros.
"If we look at the problem of a deficit of 50 billion euros, I believe that we can really solve this problem very quickly through purchases of LNG, some agricultural products such as soybeans, or in other areas," Šefčovič noted.
He also added that the total potential tariffs that Donald Trump has threatened the EU with are "astronomical numbers."
Asked whether the EU would agree to a 10% tariff as a minimum level in trade negotiations, Šefčovič suggested that the bloc would not agree to a deal that would keep tariffs at that level.
"We believe that we can actually achieve a lot together, including overcapacity in steel and aluminum, working together on semiconductors, overcoming dependence on critical raw materials," Šefčovič noted.
- On April 2, 2025, US President Donald Trump announced the introduction of new tariffs, which caused strong fluctuations in global stock and bond markets.
- The American company Kohlberg Kravis Roberts (KKR) believes that the large-scale tariffs imposed by US President Donald Trump are increasing Europe's attractiveness for investment.
