The European Commission made a statement on the US tariff policy

EU officials reminded that the European Union has some of the lowest tariffs in the world and argued that there is no justification for the US to increase tariffs. The European Union emphasised that more than 70% of imports come with zero tariffs and that the EU is one of the most open economies in global trade and the statement included; ‘Tariffs are a tax. In this move, the US is taxing its own citizens, raising the costs of businesses, hindering growth and fuelling inflation.’ They also emphasised that removing barriers to economic integration and trade is one of their most fundamental policies.

Highlighting that the US is undermining free trade through tariffs, the Commission stated that the EU will react immediately and decisively against unfair trade practices. In the statement; ‘We will take the necessary steps to protect European businesses, workers and consumers’.