Maros Sefcovic, European Commissioner for Commerce and Financial Safety; Interinstitutional Relations and Transparency, speaks to reporters in Singapore on Might 7, 2025, after signing of the EU-Singapore Digital Commerce Settlement (DTA), a landmark initiative enhancing digital financial cooperation between the European Union and Singapore.
Roslan Rahman | Afp | Getty Photos
The European Fee will announce on Thursday particulars of its subsequent countermeasures in opposition to U.S. tariffs ought to negotiations with Washington fail, European Commerce Commissioner Maros Sefcovic mentioned on Wednesday.
“Tomorrow we are going to announce subsequent preparatory steps, each within the space of doable rebalancing measures, and in addition within the areas necessary for the additional discussions,” Sefcovic instructed a information convention in Singapore after the signing of a digital commerce settlement with the Southeast Asian nation.
He added that he’ll work carefully with member states and industries to organize for each state of affairs.
“I want to make it very clear that negotiations clearly come first, however not at any value,” he mentioned.
The brand new measures would symbolize the EU’s response to U.S. import tariffs on vehicles and so-called reciprocal tariffs on most different items.
The 27-nation bloc had in April accredited duties largely of 25% on U.S. imports amounting to 21 billion euros ($23 billion), together with maize, wheat, bikes and clothes. The duties have been paused till July, after U.S. President Donald Trump introduced a 90-day suspension of reciprocal tariffs.
The EU faces 25% U.S. import tariffs on its metal, aluminum and vehicles. It additionally faces reciprocal tariffs of 10% for nearly all different items, a levy that would rise to twenty% after the 90-day pause expires on July 8.
Sefcovic beforehand mentioned U.S. tariffs now coated 70% of EU items commerce to america and will rise to 97% after additional U.S. investigations into prescription drugs, semiconductors and different merchandise.