The European Union <\/b>is ready to respond to Trump’s Trump’s threat<\/a> to raise tariffs on cars and trucks to 25%, according to Pierrakakis.<\/p>\n
Europe<\/strong> is ready to respond if Donald Trump<\/strong> goes ahead with his threat to increase tariffs on cars and trucks from the European Union to 25%<\/strong>, according to Kyriakos Pierrakakis.<\/p>\n Our first choice is always dialogue<\/b>; we want to be a predictable partner in the international economy, <\/b>we believe in the transatlantic relationship,” he said, speaking to Bloomberg Television.<\/b> “But if there is a divergence from what we have agreed, obviously all options are on the table.”<\/p>\n The dispute has heightened tensions<\/b> around the delayed trade deal between the US and the EU<\/b>. The two sides had reached an agreement in July, but EU lawmakers have yet to ratify the deal as they want further amendments. Trump said on Friday that the EU had failed to fully adhere to the trade deal.<\/p>\n Pierrakakis countered that the EU “has met all the requirements<\/b> in this equation.”<\/p>\n “For our part, we have fully met our obligations<\/b> with respect to the commitment of the joint communique and the legislative timetable we had to pass it. We need to accelerate, we know that. But from our perspective there is predictability,<\/b> he pointed out.<\/p>\n Before Friday’s threats<\/b>, the EU was tolerant<\/b> of US tariffs<\/b> on steel and aluminium products,<\/b> despite a recent review by the US administration, as nearly half of EU exports using those metals would face higher tariffs.<\/p>\n Although both sides have agreed to continue talking<\/b> to address this chronic problem<\/b> since the deal was reached, the European Commission<\/b> told EU ambassadors last week that it stands ready to respond if necessary.<\/p>\n This latest threat of tariffs renews a contentious trade dispute<\/b> with a major economic coalition, while the war in Iran and the subsequent rise in energy prices are putting new pressures on the global economy.<\/p>\n “Needless to say, the debate that is going on right now is completely unnecessary<\/b> and extremely unfortunate,”<\/b> Pierrakakis said. “The last thing the global and European economy<\/b> needs right now is another layer of uncertainty over what is happening in the Hormuz Strait<\/b> and the Middle East<\/b>,” he said.<\/p>\n The financial crisis has forced governments across Europe to introduce support packages for households<\/b> and businesses.<\/p>\n “The measures that have worked are the ones that are most targeted,” he said, adding that “right now, we have the right analysis of the situation, we have the right response at the European Union level,<\/b> because we don’t want the energy crisis to fuel an economic crisis.”<\/p>\n","protected":false},"excerpt":{"rendered":" The European Union is ready to respond to Trump’s threat to raise tariffs on cars and trucks to 25 percent, according to …<\/p>\n","protected":false},"author":1,"featured_media":3851,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[],"class_list":["post-3850","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy"],"acf":[],"_links":{"self":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/posts\/3850","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3850"}],"version-history":[{"count":0,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/posts\/3850\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=\/wp\/v2\/media\/3851"}],"wp:attachment":[{"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3850"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3850"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/en.tomanifesto.gr\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3850"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}