The EU will take firm action against measures that hinder free trade

In connection with Donald Trump signing a presidential document on the development of a system of reciprocal tariffs on Thursday, the EU Commission said in a statement: the European Union maintains the lowest tariffs in the world and remains committed to an open and predictable global trading system that benefits all partners.

“Tariffs are a tax. By imposing tariffs, the United States taxes its own citizens, increases the costs of doing business, stifles growth and fuels inflation. Tariffs also increase economic uncertainty and disrupt the efficiency and integration of global markets,”

they said.

World trade, they wrote, “has flourished” with predictable and transparent rules and low tariffs. To maintain this, the EU has worked for decades with trading partners such as the United States to reduce tariffs and other trade barriers worldwide, strengthening openness through binding commitments in a rules-based trading system.

“Commitments that the United States’ decision now undermines,”

they pointed out.