Donald Trump’s return to the White House raises uncertainties on EU-US trade relations, challenges multilateralism and threatens the international rules-based order. Moreover, the US President’s recent announcements on new tariffs for its main trade partners, including a 25% tariff on steel and aluminium imports, set a precedent that will negatively affect the global economy and will raise costs for consumers. The S&D Group recognises the importance of EU-US trade relations but believes that, first and foremost, the EU should stand up for its values. If necessary, the EU should react through the WTO and its own mechanisms, including counter-tariffs, as the best way to defend our people, businesses and interests.
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