Nelyopsin said in a press conference: “We are in a transitional period for Brussels and Washington, and we are taking advantage of this moment to focus on the issues that we believe we can cooperate on” with the new US administration.
However, “sometimes moments of tension” can be expected, she stressed US“If tensions arise at the trade level, the European Union will be ready to respond.”
Bilateral trade between the United States and the European Union represents more than 40 percent of global GDP and would be affected by an imposition Customs duties.
Jovita Neliopsin said, “It’s simple. If (Donald Trump) imposes tariffs, we will respond. But we must deal with him like any other American partner: dialogue and make sure that a common agenda can be reached.”
The president-elect did not hide his desire to re-impose customs duties of 10 to 20 percent on all products entering the United States, considering it a tool for future trade negotiations but also a means to finance the large tax cut he seeks to implement.
Trump particularly attacked the European Union during his election campaign, comparing it as a whole to “a miniature China, without being very small” that “benefits” from the United States commercially.
The European Union is the United States’ largest trading partner in terms of value, and the US trade deficit with the European Union is considered the second largest in terms of size, after China.
But the situation varies greatly from one country to another. If the United States has a trade deficit towards Germany, France and Italy, on the other hand it has a surplus with regard to its trade with the Scandinavian countries or the Benelux countries.
Jovita Neliopsin expressed her hope that it would be possible to establish a “positive agenda” in the event of tensions, reminding that “we are here to build solid foundations for continued transatlantic cooperation,” whether related to issues of trade, security, or taxes.
“Although we have experienced tense moments in the past, we have managed to find a way to calm things down,” she said.
She believed that the European Union and the United States had made progress, especially with regard to competition from China.
