EU Commission Seeks Stability in Trade Relations with U.S.
The European Commission is prioritizing a return to stability and predictability in trade relations with the United States, according to a spokesperson for the Commission. Olof Gill, the Commission’s Trade Spokesperson, stated during a daily press briefing, “What is important to us is to return to a situation of stability and predictability as quickly as possible.” The Commission is awaiting further clarification from U.S. Counterparts regarding the implementation of recently agreed-upon tariff adjustments, a development closely watched by businesses on both sides of the Atlantic.
Gill added, “We have a framework for doing so, which is the EU-U.S. Joint Statement, and we look forward to our U.S. Counterparts explaining to us exactly what is happening, so that People can return to a situation where companies in the EU and the United States can continue to do what they do best: trade, invest, create jobs, and create prosperity on both sides of the Atlantic.” The statement comes as markets assess the potential impact of evolving trade policies on global supply chains and economic growth.
Acknowledging the uncertainty surrounding the situation, Gill emphasized the Commission’s commitment to maintaining a stable environment for businesses and consumers. “As protagonists in this saga, we are keeping calm. We are trying to maintain stability and predictability for businesses, for consumers, in the face of substantial unpredictability. What we have is what is needed to allow trade and investment to continue to flow across the Atlantic,” he said.
The Commission has consistently maintained that tariffs are essentially taxes, ultimately borne by consumers and businesses. “We have made it very clear from the beginning of the imposition of tariffs by the United States that we believe tariffs are taxes. We believe that, the costs are paid by consumers and businesses, and in this case, paid by consumers and businesses in the United States,” Gill concluded.
