European Commission President Ursula von der Leyen has said that the European Union is seeking to do more business in other countries around the world as US President Donald Trump's tariffs have hit international trade. This is reported by UNN with reference to AP.
Details
On Monday, von der Leyen said the EU is also creating a working group to monitor any dumping in its markets that may occur due to changing trade patterns.
We will focus, like a laser beam, on the 83% of world trade that takes place outside the United States. This is a huge opportunity
After already concluded agreements with Mexico and Switzerland, she said, "we are working on India, Thailand, Malaysia, Indonesia and many other countries."
According to von der Leyen, the working group will help track any unexpected surges in imports and "protect ourselves from indirect consequences through trade diversion." She also clarified that the European Commission negotiates trade agreements and disputes on behalf of the 27 EU member states.
Von der Leyen insists that the EU still wants to reach an agreement with the Trump administration, but "we are preparing a potential list for retaliation, as well as other retaliatory measures, if necessary."
Supplement
Ursula von der Leyen said that the European Union has offered the United States zero tariffs on industrial goods.
"Europe is ready to negotiate with the United States. We have offered zero tariffs on industrial goods. Because we are always ready for a good deal," said von der Leyen.
At the same time, Chinese leaders have been discussing possible measures to stabilize the economy and financial markets over the weekend to counter increased tariff pressure from the United States.