EU industrial tariffs: Is President Donald Trump’s plan effective? The EU has proposed a “zero-zero” tariff policy. This is
Provided by the EU
European Commission President Ursula von der Leyen announced the proposal. She said the EU is willing to adopt a “zero-zero” tariff policy. This means that both the United States and the European Union will eliminate tariffs on industrial products.
Von der Leyen explained that this approach works with other trading partners. She added that the offer is still valid and negotiations are available.
US tariffs
Last week, the United States imposed a 20% import tax on goods. The decision is part of a broader policy change announced by President Donald Trump.
On April 2, Trump called this move “Liberation Day.” He said that now 10% of global tariffs will apply to many imports. Higher tariffs are planned to begin on April 9.
Stock market reaction
The global stock market fell after the announcement. Investors are concerned about the possible impact of these new trade rules. Markets in various regions showed a decline. Traders are monitoring the situation to get the latest information on future trading negotiations.
EU keeps trade offer open
Von der Leyen confirmed that the offer is still available. She spoke at a press conference with Norwegian Prime Minister Jonas Gahr Støre.
The EU has used similar zeros and its policies in past trade agreements. The aim is to reduce costs and promote smoother trade between partners.
FAQ
What is the significance of zero tariffs in the EU?
This means that both the EU and the United States will eliminate tariffs on industrial products to promote fair and open trade.
Why did the global market fall after the US tariff decision?
Investors responded to concerns about higher trade costs and global tensions, causing stock prices to fall.
