CAPE TOWN: The European Union is ready to negotiate with the United States over escalating tariffs between the two economic superpowers, European Commission head Ursula von der Leyen said Thursday.
US President Donald Trump threatened earlier Thursday to apply 200-percent tariffs on wine, champagne and other alcoholic drinks from EU countries, in a new twist of an escalating trade war between the two sides.
It came after the EU on Wednesday unveiled tariffs countering US moves on steel and aluminium, hitting some $28 billion of US goods in stages from April.
EU to impose counter tariffs on over $28 billion of US goods
“We don’t like tariffs because we think that tariffs are taxes, and they are bad for business and they’re bad for consumers,” von der Leyen told reporters in South Africa after a meeting with President Cyril Ramaphosa.
“We’ve always said that we will, at the same time, defend our interests,” she said. But, “I also want to emphasise that we are open for negotiations.”
The bloc’s trade commissioner was in contact with his counterpart in the United States and they were expected to have a phone call Friday on the tariff row, von der Leyen said.
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