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EU pushes back against Trump tariff threats and his caustic comments that bloc out to get the US
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....U pushes back against Trump tariff threats and his caustic comments that bloc out to get the US<BR>PTI News<BR>Dated:- 27-2-2025<BR>PTI<BR>Brussels, Feb 27 (AP) The European Union's executive branch said Thursday that the 27-nation bloc wasn't out to undermine the United States, as US President Donald Trump put it, but instead was the world's largest free market that has created an economic windfa....
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....ll for American companies working on and with the continent. The bloc also added it would vigorously fight a wholesale tariff of 25 per cent on all EU products headed for the US, as Trump has threatened in the latest round of vitriolic comments aimed at an age-old ally and economic partner. Thursday's EU pushback came after Trump told reporters that “the European Union was formed in order to....
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.... screw the United States. That's the purpose of it, and they've done a good job of it,” adding it would stop immediately under his presidency. He said that the tariffs would be on “cars and all other things.” The moment the tariffs would be announced, the EU has said it would trigger tough countermeasures, on iconic US industries like bourbon, jeans and motorcycles. “The EU will react ....
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....firmly and immediately against unjustified barriers to free and fair trade,” European Commission trade spokesman Olof Gill said in a statement. “We will also protect our consumers and businesses at every turn. They expect no less from us.” Trump said in comments late Wednesday that the United States stood ready. “We are the pot of gold. We're the one that everybody wants. And they can ....
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....retaliate. But it cannot be a successful retaliation, because we just go cold turkey. We don't buy any more. And if that happens, we win.” Gill also countered Trump's caustic comments on the inception of the EU and its development as an economic powerhouse. “The European Union is the world's largest free market. And it has been a boon for the United States,” he said, adding that the EU h....
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....as “facilitated trade, reduced costs for US exporters, and harmonised standards and regulations,” which makes it easier for US exporters. The EU estimates that the trade volume between both sides stands at about USD 1.5 trillion, representing around 30 per cent of global trade. Trump has complained about a trade deficit, but while the bloc has a substantial export surplus in goods, the EU sa....
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....ys that is partly offset by the US surplus in the trade of services. The EU says that trade in goods reached 851 billion Euros (USD 878 billion) in 2023, with a trade surplus of 156 billion Euros (USD 161 billion) for the EU. Trade in services was worth 688 billion Euros (USD 710 billion) with a trade deficit of 104 billion Euros (USD 107 billion) for the EU. The figures are so big that it rem....
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....ained essential to avoid a trade war, the EU has said. “We should work together to preserve these opportunities for our people and businesses. Not against each other,” Gill said. “Europe stands for dialogue, openness and reciprocity. We're ready to partner if you play by the rules.” (AP) NPK NPK<BR> News - Press release - PIB....