D. Saková: The European Union is preparing a joint response to unfair US tariffs

Vytvorené dňa: 07.07.2025      Aktualizované dňa: 07.07.2025

On Monday 7 April 2025, Denisa Saková, the Deputy Prime Minister and Minister of Economy of the Slovak Republic, attended the EU Foreign Affairs and Trade Council meeting in Luxembourg. The member states, including Slovakia, agreed on the need for a unified approach in response to the new tariffs imposed by the United States.

„Today's meeting showed that Europe is united in finding the right response to the United States' tariffs. New unilateral tariffs on this scale are neither fair nor economically justified. They will damage both Europe and the United States itself. The European Union is and will be ready to negotiate concrete steps to stop this completely unnecessary trade war,“ said Ms Sakova after the talks.

Commissioner Maroš Šefčovič briefed the participating ministers on the current negotiations and the preliminary analysis of the impact of the new US tariffs. These measures could affect goods worth around €380 billion, meaning European importers would have to pay tariffs of up to €80 billion — a substantial increase compared to the current situation.

However, Europe has instruments at its disposal to compensate for the damage caused. According to the European Commission's calculations, an increase in internal market trade of less than three per cent would offset the impact of the tariffs. Therefore, removing remaining trade barriers between EU Member States could also help.

The Minister of Economy, D. Saková, also emphasised the importance of diversifying trade relations. She called for the swift approval of the EU-Latin America free trade agreement and stressed the potential for cooperation with fast-growing Asian economies. A strategic dialogue with China could also stimulate economic growth in Europe.

The Press department of MoE SR

Zdroj: http://www.mhsr.sk/top/d-sakova-the-european-union-is-preparing-a-joint-response-to-unfair-us-tariffs