Global Trade Tensions: EU and US Battle Over Tariffs

The EU's trade commissioner, Maros Sefcovic, is in talks with U.S. officials to avoid tariffs on EU goods. Trump plans to reciprocate tariffs to combat non-tariff barriers. Meanwhile, countries, including India, prepare concessionary measures. Amidst the escalating trade war, Canada is also considering retaliatory measures.

The European Union's trade commissioner, Maros Sefcovic, was set to meet with top U.S. trade officials, aiming to deter imminent tariffs on EU goods.

Sefcovic's prior discussions with key figures, including Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer, have yet to sway President Trump's tariff strategy designed to counter non-tariff barriers. Meanwhile, diplomatic moves, particularly from India, reveal a willingness to negotiate tariff reductions, potentially broadening market access for U.S. imports.

As the U.S. prepares to implement sector-specific tariffs, EU leaders face challenges in maintaining a robust transatlantic trade relationship. Canadian Prime Minister Mark Carney has also signalled potential retaliatory actions, underscoring the high stakes of the ongoing global trade conflict.

(With inputs from agencies.)