European Commission President Ursula von der Leyen said on Monday that the European Union had offered to scrap tariffs on industrial products, saying it was “ready to negotiate” with the United States.
“These tariffs come at a huge cost for US consumers and businesses first and foremost, but at the same time, they have a major impact on the global economy,” the head of the EU executive arm said at a press conference in Brussels.
Exports to the EU to the U.S. face 20% “mutual” tariffs, while the steel and automotive industry face 25% tariffs after US President Donald Trump announced heavy tariffs in dozens of countries last week. Von Der Leyen said the tariffs that caused the defeat of the global market represent a “major tipping point” for the United States.
“Nevertheless, we are ready to negotiate with the US. In fact, Europe is always quite prepared and, like we have successfully provided zero tariffs on industrial products,” she said.
When the EU surfaced its zero-rif offer, von der Reyen said the offer was made “long ago” by Trump’s latest tariff announcement, “repeated, for example, in the auto sector.” She emphasized that the EU has long been “zero zeros in other countries with a strong auto sector.”
At the same time, the EU is willing to play hardball. Although the EU prefers to attack “negotiated settlements,” the Bullock “prepares a potential list (of US imports) for retaliation,” she said.
Meanwhile, the head of the EU executive arm said he would explore new opportunities, citing the deals the Bloc has already made with Mexico and Switzerland, as well as new trade deals it is exploring with India, Indonesia and other countries in the Indo-Pacific.
“We focus on 83% of global trade beyond the US (a huge opportunity) like laser beams. That’s why we are deepening our relationships with our trading partners,” she told a press conference in Brussels.
This post has been updated with additional information.