Regarding US President Donald Trump’s threat to impose new tariffs on several EU countries for refusing to hand over Greenland to the US, VDMA President Bertram Kawlath says:
“Europe must not allow itself to be blackmailed, not even by the United States. Greenland is part of Europe and must remain so. If the EU gives in here, it will only encourage the American president to make the next ludicrous demand and threaten further tariffs.”
Standing up to expansionist policy
“Europe must stand up to this US expansionist policy with confidence, unity and determination. This requires deeper integration – in terms of economic and, in particular, security policy. The EU Commission should examine whether the anti-coercion instrument can be used. This instrument enables the EU to take countermeasures when economic pressure is exerted to force political decisions.”
Kawlath continues: “The European Parliament cannot possibly decide on tariff cuts for the US next week as long as Washington is putting pressure on the European Union with new punitive tariffs. We call on Republican members of both houses of Congress, in particular, to use their power to stop the President in his expansionist endeavours. The economic price that the US will also pay for the consequences in transatlantic trade is high and will become even higher if the punitive tariff policy does not stop.”
Mechanical engineering disproportionately affected by US tariffs
“The European mechanical and plant engineering industry is already disproportionately affected by US punitive tariffs because a large number of products are subject to special tariffs of 50 per cent on steel and aluminium. Added to this are high bureaucratic costs, which prevent many transactions. More than half of all exported machinery could be affected.”