The European Union should not be done according to Olivier Blanchard, the former chief economist of the International Monetary Fund (IMF), while Donald Trump warned on Saturday, July 12 that he intended to impose customs tariffs of 30% in imports of the block of August 1 (against 2.5% on average before his return to power).
“The objective (of the answer, the editor’s note) is not to lead high customs tasks on both sides, but to bring the United States to return to a reasonable position,” continued the economist, considering that being kind, renouncing the digital tax, has brought anything to Europe. “
Canada has also been seen Impose very high customs rates at the end of the week (35%), even after having He let a tax on digital services who got angry with the White House.
Olivier Blanchard, therefore, suggests that the EU is associated with its response from other interested countries, such as “Japan, Canada, Brazil and any person who wishes to participate” to gain efficiency.
The EU is preparing
Specifically, the EU could also notice its customs tariffs in American imports.
A first list of retaliation rights to US products for around 21 billion euros has been planned. Suspended for several weeks, these taxes would take effect on Tuesday, July 15 at midnight, but their suspension will run until early.
“The United States has sent us a letter with measures that would enter into force unless there is a negotiated solution, so we will also extend the suspension of our countermeasures until the beginning of August,” said Ursula von der Leyen this Sunday, July 13.
The president of the commission said, however, that the EU would continue to prepare to establish countermeasures if the negotiations were not successful. According to Bloomberg, the EU has worked on another list of American products that can be subject to additional customs tasks.
“Negotiation Tactics”
The challenge will be to agree with the Member States, while the US President threatened the EU to further increase taxes if they were to retaliate. At the moment, France and Germany seem to be rather in the same wavelength.
Emmanuel Macron asked the EU to mobilize “all the instruments at their disposal, including the anti -coercion instrument if it is not reached on August 1”.
For his part, the German finance minister also indicates that the measures “must continue to prepare” in case of lack of agreement. “Our hand is still tense, but we will not accept anything,” said Lars Klingbeil in the Sweddeutsche Zeitung newspaper.
Several European officials have described the announcement of US president “negotiation tactics”. Brussels and Washington have been trying to arrive for many weeks to reach a commercial agreement for many weeks to avoid unilateral taxes of customs barriers raised by the United States.
The European Commission, which is negotiating with the United States government on the name of the EU, said on Saturday that it intended to continue these negotiations.
Until now, Brussels was trying to obtain a first agreement that would provide a customs tariff of around 10% and fight to obtain a lightening in important sectors such as Aerononics and the car. Despite Donald Trump’s warning, discussions are expected to continue before August 1.
Source: BFM TV
