The European Union is considering a solution to its ongoing trade dispute with the United States by proposing an increase in purchases of American products worth €50 billion.
The proposal, put forward by European Commissioner for Trade Maroš Šefčovič in a recent interview, aims to address the perceived trade imbalance between the two sides.
Šefčovič believes that increasing imports of goods such as natural gas and soybeans could provide an effective resolution to the issue.
Currently, the EU is engaged in negotiations with the U.S. administration to secure the removal of tariffs imposed by President Donald Trump, which include a 25% duty on cars, aluminium, and steel, in addition to a 10% tariff on all other products.
The United States maintains that Europe runs a significant trade deficit with the U.S., estimated at several hundred billion dollars. However, the European Union argues that the figure is much lower—around €50 billion—when services are factored into the calculation.
Comments