The EU supported the United States in a trade war with China

The EU supported the United States in a trade war with China

The EU is ready to support the US in a trade war against China, if Washington guarantees that European countries will not be subject to American tariffs on steel and aluminum. About this newspaper The Wall Street Journal, citing sources.

According to the newspaper, the EU is preparing a proposal that can be compared with the simplified Transatlantic trade and investment partnership — a trade agreement between the United States and the European Union, which was prepared under the administration of Barack Obama, however, has not been concluded.

For its part, the EU is ready to offer the United States to reduce tariffs on the import of U.S. vehicles, components and industrial equipment, agricultural products and medicines. Also, Brussels is ready to commit themselves “to join forces with US in combating what both parties consider to be unfair trade practices of China” and to put pressure on Beijing.

As the newspaper notes, in practice this may include joint action against China at the world trade organization (WTO). In exchange, the EU may ask the United States to permit European companies to the American public procurement.

One of the initiators of this plan was Germany, whose economy is heavily dependent on exports and may suffer the most significant losses during the deployment of a trade war between the European Union and the United States.

USA 23 Mar introduced for all countries increased duties on imports of steel and aluminum. The only exceptions were Argentina, Australia, Brazil, Canada, Mexico, the Republic of Korea and the countries of the European Union, in respect of which fees start to operate on 1 may.