Reacting to the recent announcement by the United States regarding additional tariffs on steel and aluminium, BusinessEurope Director General Markus J. Beyrer expressed concerns over the potential negative impact on both sides of the Atlantic.
"Additional US tariffs on steel and aluminium are a lose-lose for both sides of the Atlantic," Beyrer stated. He emphasized the importance of reducing trading and investment costs across the Atlantic to support jobs and investments in Europe and the US. "This is why imposing tariffs is a lose-lose scenario for both sides," he added.
Beyrer called for Europe to assess these actions' consequences carefully and respond with unity. He highlighted that safeguarding EU interests should be a key priority, aiming ultimately for a negotiated solution.
He also stressed the necessity for the EU to diversify its import and export markets as a way to mitigate risks and increase resilience. Beyrer cited agreements with Mercosur and Mexico as positive examples, urging swift ratification.
In light of current geopolitical uncertainties, Beyrer concluded by stating that it is crucial for the EU to strengthen its economy and competitiveness to protect against economic coercion.