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The EU flags flutter in front of the headquarters of the European Central Bank (ECB) in Frankfurt, Germany, July 18, 2024.
Jana Rodenbusch | Reuters
European leaders will meet Monday to discuss how to finance large investments in defense, but the last movements of the president of the United States, Donald Trump, will be large during the meeting.
During the weekend, Trump confirmed the next tariffs on goods in Mexico, Canada and China, which would be activated on Tuesday. For now, European goods were saved, but EU officials know that they could be the following in line.
The president of the United States has not been shy by sharing his opinions on Europe’s commercial practices. In fact, during the night, Trump told reporters: “It will definitely happen with the European Union.”
“I can tell you that, because they really took advantage of us. And, you know, we have more than a deficit of $ 300 billion. I would not say there is a timeline, but it will be very soon,” he added.
In 2023, the United States was the largest export market in the EU, according to the European Statistics Officealthough the block also imports significant amounts of the US.
Although the EU mainly sells cars and pharmaceutical products to the US, mainly imports oil and natural gas from the US.
There is a consensus in the European Union that a way of mitigating commercial tensions with the US. UU. It will be increasing energy purchases.
Talking before the European union leaders meeting on Monday, an EU official, who did not want to be appointed due to the delicate nature of the relationship with the United States, said they expected the latest Trump movements to be mentioned.
“I do not expect a specific discussion about tariffs, but it is likely that some leaders raise the problem,” the official told CNBC Sunday.
Firm answer
Meanwhile, the EU has been preparing for possible tariffs of the United States and has promised a “firm” response to any new duties.
“The European Union regrets the United States’s decision to impose tariffs on Canada, Mexico and China,” said a spokesman for the European Commission, CNBC Sunday.
“The EU firmly believes that low tariff “They added.
And although Trump’s last duties do not directly go to the EU, officials in the block are aware of their indirect consequences.
A high -level diplomat, who did not want to be named due to the sensitivity of the problem, told CNBC that he realized that a commercial confrontation is approaching with the EU.
“The EU can still negotiate, even buying more LNG, but it will be very difficult (avoiding a escalation),” said the main diplomat.
