On February 27, French Finance Minister Eric Lombard said that the European Union (EU) would do the same if the US implemented the 25% tax rate announced by President Donald Trump.
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| If the US continues to raise tariffs, as President Trump has announced, the EU will do the same. (Source: Getty Images) |
Specifically, on February 26, Mr. Trump warned that he would impose a 25% tax on goods imported from the EU.
In response, on the sidelines of the G20 Foreign Ministers' Meeting in Cape Town, Mr. Lombard shared that if Washington continues to increase taxes, as President Trump has announced, the EU will do the same.
"Even if it is not in the common interest, the bloc must defend its interests and the interests of the countries in the union. Continuing to cooperate in trade is in the interest of both economies," said Minister Lombard.
When diplomats from the Group of Seven (G7) of the world's leading industrialized nations told US Treasury Secretary Scott Bessent via a video conference that tariff wars lead to inflation, lower growth and are not a solution.
Negotiations between the EU and the US will begin on April 2.
The 27-member bloc will "represent European countries with the aim of reaching a fair deal".
The US and the EU are each other's largest trading partners and are also major investors in their respective economies.
Source: https://baoquocte.vn/phap-len-tieng-ve-muc-thue-25-tu-my-tiet-lo-hanh-dong-cua-eu-305923.html
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