The European Union is “ready to react” in the event of new trade tensions with the US, its ambassador to Washington Jovita Neliupsiene assured, while the election of Donald Trump to the White House is expected to lead to the return of tariffs.

“We are in a period of transition, both in Brussels and in Washington, and we are using this moment to focus on the issues on which we believe we can work together” with the new American administration, said Neliupsiene, during a press conference.

However, it cansometimes there will be moments of tension” with the US and “if tensions arise at the trade level, the EU will be ready to react“, he underlined.

Bilateral trade between the US and the European Union represents more than 40% of global GDP and would be affected by tariffs.

“It’s simple, if (Donald Trump) imposes tariffs, we will respond. But we must manage him as any other American partner: discuss and ensure that a common agenda is possible“, a European official in Brussels had estimated at the beginning of November.

The president-elect has made no secret of his willingness to reimpose tariffs of 10% to 20% on all goods entering the US, seeing them as leverage for future trade negotiations but also as a means of financing the major tax cuts he is considering.

Donald Trump specifically took aim at the EU during his election campaign, comparing the Union to a “mini-China, not so small compared to before”, which “takes advantage” of the US from a trade point of view.

The European Union is actually the US’s number one trading partner by value and accounts for the US’s second largest trade deficit, after China.

“We exchange $1.7 trillion in goods and services each year, we are each the other’s largest investor for a total of $5 trillion. And most importantly, that trade and that investment created 16 million jobs” on both sides of the Atlantic, described the ambassador of the European Union.

However, if tensions do arise, Jovita Neliupsiene hopes that a “positive agenda” will be implemented, reminding that “we are here to build strong foundations for transatlantic cooperation to continue”, both in the trade sector, as well as in the field of security or taxation.

“Even though we may have had tense moments in the past, we were able to find a way to calm things down“, she reminded herself.