EU Prepares for Potential Tariff Challenges from US

The European Union is prepared to address any tariffs the U.S. might impose under President-elect Donald Trump. German Chancellor Olaf Scholz emphasized the importance of dialogue, suggesting the EU should seek talks with the US rather than speculate or act prematurely on such matters.

The European Union is ready to tackle potential tariffs that U.S. President-elect Donald Trump might introduce, according to German Chancellor Olaf Scholz. Speaking in Budapest, Scholz highlighted the EU's competencies to handle such issues but stressed the importance of dialogue.

"I don't think we should speculate too much on this issue with the US," he stated, emphasizing that the EU has the skills necessary to take appropriate measures if needed. The comments were made during an informal EU summit held in the Hungarian capital.

Chancellor Scholz called for clear dialogue, underscoring the need for open talks with the US to address any emerging trade challenges proactively, rather than rushing to retaliate or make assumptions.

(With inputs from agencies.)