New Trump tariffs of 30% will "virtually ban" trade between EU and US, - European Commissioner Šefčovič
European Commissioner for Trade Maroš Šefčovič said that US President Donald Trump's threat to impose 30 percent duties on European goods would "virtually ban" transatlantic trade.
This was reported by Censor.NET with reference to The Guardian.
Shefchovich noted that a duty of 30% or more would have a huge impact, making it "virtually impossible to continue" the current transatlantic trade, which amounts to 4.4 billion euros.
Expressing his disappointment, he noted that his negotiating team believed they were close to a deal.
"There was a feeling on our side that we were very close to a deal," he said, adding that the two sides had been negotiating an agreement in principle - the main provisions of the agreement - for four weeks before Trump's abrupt announcement over the weekend.
The EU will be looking for a way out of the trade talks after Trump's threat to impose 30 percent tariffs, the European Commissioner added.
The US President announced the introduction of 30% tariffs on EU goods starting August 1.
