The European Union is “ready to negotiate” with the United States and has offered to scrap tariffs on industrial goods, Ursula Von der Leyen, president of the European Commission, said Monday.
“These tariffs come first and foremost at immense costs for US consumers and businesses but, at the same time, they have a massive impact on the global economy,” the head of the EU’s executive arm said at a news conference in Brussels.
Following US President Donald Trump’s announcement of hefty tariffs on dozens of countries last week, EU exports to the US face a 20% “reciprocal” tariff, while its steel and auto industry face a 25% tariff. Von der Leyen said the tariffs, which have caused a global market rout, represent a “major turning point” for the US.
Asked when the EU tabled the zero-tariff offer, von der Leyen said the offer was made “long before” Trump’s latest tariff announcement and “repeatedly, for example, in the automotive sector.” She stressed that the EU has long gone “zero for zero with other countries that also have a strong automotive sector.”
At the same time, the EU is willing to play hardball: Although the EU would prefer to strike a “negotiated settlement,” the bloc is also “preparing a potential list (of US imports) for retaliation,” she said.
Meanwhile, the head of the EU’s executive arm said the bloc would explore new opportunities, citing deals it has already made with Mexico and Switzerland, as well as new trade agreements it is exploring with India, Indonesia and other countries in the Indo-Pacific.
“We will focus like a laser beam on the 83% of global trade that is beyond the United States – vast opportunities – and this is why we’re deepening our relations with our trading partners,” she said at a news conference in Brussels.
This post has been updated with additional information.