The American President-elect proposed Donald Trump The idea of imposing customs duties of 10 percent or more on all goods imported into… USEurope’s main trading partner.
“The level of integration between our economies is such that trade relations between the European Union and the United States are a stabilizing economic and political force,” Gentiloni said in a press conference.
He continued, “Despite trade disputes and regulatory disparities, the two regions maintain a common interest in upholding high standards, fair competition, and stability in global markets.”
He added: “In this context, any potential shift to increase protectionism in US trade policy would be extremely harmful to both economies.”
He added that the European Commission will work with the next US administration to advance a “strong transatlantic agenda” and ensure that international trade channels remain open and become more secure.
Gentiloni said that the two countries that would be most affected by the potential increase in US tariffs are: Germany And Italy because they export most of their products to US.
He added that customs duties may also have a negative impact on the American economy itself by increasing inflation and its consequences.
