EU nations can be committed to spending $ 56 billion for American products to end tariffs with American President Donald Trump, EU Commissioner of Business Maros Sefcovic said in an interview with The Financial times Published Thursday.
Sefcovic, who has been leading talks with the American administration, said that “certain development” was made but the European Union would not accept the 10 percent American tariff on EU products.
Sefcovic said that once American services were considered, the American trade deficit and 27 EU countries are about 50 billion euros ($ 56 billion) a year.
“If what we look at as a problem in the deficit is € 50 billion, I believe we can really. Solve this problem very quickly through the purchase of LNG (natural gas), through other agricultural products like soyabeans, or other places,” the commissioner told FT.
Trump said the deficit is $ several hundred a year and has imposed 25 percent tariffs on EU -made vehicles, aluminum and steel. Some goods have a 10 percent tariff.
The US president previously issued a 20 percent tariff on EU goods but this has been suspended until July and advisers are now seeking to prevent a full trade war on tariffs if this rate comes into effect.
Sefcovic said that even the 10 percent primary tariff would be the “high” rate that the EU could not accept.
The commissioner said that while the two sides had a great understanding of the other's position, it would still be “very difficult” to achieve a program that was “good and acceptable to our member states and our European Parliament”.
This story was previously shown Bahati.com