The European Union is ready to use “all the tools” available to defend its commercial interests, Commissioner Maros Sefkovic said during a press conference in Luxembourg today.

Shortly after the EU’s Extraordinary Council of Commerce Council, M. Shefkovic said that on the basis of all US tunior announcements, European goods would be affected by a total value of 380 billion euros, or about 70% of total EU exports.

M. Sefkovic stressed that the Commission is focusing on “substantial negotiations” with the US government and added that he appreciated the efforts of his counterparts, US Secretary of Commerce Howard Lutnik and US trade representative Jameson Green.

M. Sefkovic said the EU had proposed zero duties on both sides of the Atlantic for cars and industrial goods. He also noted that both sides, the EU and the US, acknowledge that their commercial relationship could benefit from a new look and a boost in strategic areas and that “If we work together we could build a transatlantic market that will benefit both sides“

However, M. Sefkovic pointed out that EU negotiations with the US are still at an early stage and acknowledged that “US involvement will take time and effort”. He also stressed that while the EU remains open and prefers negotiation, it will not wait endlessly, “we will defend our interests with countermeasures.”