– In a situation where we are very close to each other, the American economy and European economies, president Trump, knowing how many American companies are operating in Europe and making very good money here, and on the another hand how many European companies live from exports or production on the American market, is making the heaviest guns, and has truly led to the fact that present we have a very intense relation in the economic, commercial relations with the United States, says Newseria Michał Kobosko, associate of the European Parliament from Poland 2050, Renew Europe.
– We don't know how the customs case will end, due to the fact that there was a alleged deadline on 9 July, after which it was expected to be clear. At the minute we hear that there are more deadlines,” Kobosko adds.
New EC proposal to modify the first list of US products worth €95 billion
On 14 July, the European Commission presented a proposed US import work of EUR 72 billion to respond to the imposition of 30-percent. EU import rates announced by Americans last week. However, EC representatives inactive see the possible of continuing negotiations. According to Euro MP Michał Koboski, there is no agreement or agreement on rates higher than 10 %. not only will it harm both sides, but it will besides weaken their global position.
The fresh EC proposal is simply a modification of the first list of US products worth a full of EUR 95 billion, which the EC presented in May. Meanwhile, European politicians have indicated that the framework agreement with the States is near. It is not yet known whether specified a public exchange of blows will prevent its finalization.
This time Europe was at a 30-percent stake, as was Mexico.
On April 2, Donald Trump announced a list of dozens of countries along with customs rates he intended to impose on imports from individual countries. The European Union has "come in" in this hand 20%. However, after the collapse that the decision on duties triggered in the stock market, and above all the bonds, the American president decided to suspend them for 90 days. That deadline was 9 July. 2 days earlier, the U.S. administration began to send letters to respective countries of the planet indicating what duties would apply to them from 1 August. This time Europe was at a 30-percent stake, as was Mexico. As of April, the U.S. has only signed 2 agreements, with Britain and Vietnam. The issue of a settlement with the EU, which is the 3rd largest trading partner of the US, remains a large unknown.
"The US is trying to impose on many countries, not only European, especially Asian, or South America, fresh rules for common trade. This alone further impedes and destabilises the relations of the US with many countries," says Michał Kobosko. "I hope that, as far as Europe is concerned, we will be able to halt this madness at a 10-percent rate, which is present the basic rate of work for our trade relations with the US. Any going higher will be harmful to the US economy and to European economies, and in peculiar to US consumers.
This war can only be lost
As he emphasizes, in any time decisions to introduce duties will be felt in American wallets. But Europe will besides have a strong impact.
– Trade wars, especially intercontinental wars like America and Europe, cannot be won, this war can only be lost. Whoever starts it, who demands advanced duties on imports of products on the another hand, is at hazard that the another side will introduce the same duties or even even stronger ones, in short, that the spiral will get hot," says the Euro MP. "This spiral would be harmful to US citizens and Polish citizens, EU citizens. I hope that this will be overcome, that there will be a compromise and, above all, that this compromise will proceed and president Trump will not change his head again.
The unique relations we have through the Atlantic, between Europe and the US, must be protected
The EU, and Germany in particular, is the 4th US trade partner after Mexico, Canada and China. In 2024, common trade amounted to EUR 1.68 trillion. economical relations between the 2 areas account for almost 30% of planet trade in goods and services and 43% of global GDP. At the same time, the United States has a deficit in trade with Europe: in 2024, the value of goods carried circular the Atlantic was EUR 867 billion, of which European exports accounted for EUR 532.3 billion, and the US for EUR 334.8 million. The Community mainly sells pharmaceuticals, vehicles and industrial machinery to Americans.
– For many decades, for the full 20th century, we have been doing well on both sides of the Atlantic erstwhile we played together. erstwhile any disputes began, American isolationism began, i.e. it is the celebrated America First, differently understood by the various presidents of the United States, at the time it was harder and worse," says Michał Kobosko. "I believe that these unique relations that we have through the Atlantic, between Europe and the United States, must be protected. I will never let myself to say that America has left us, sailed away, turned its back due to the fact that that would be dangerous. Not only for Europe, but besides for the global interests of the US.
