BRUSSELS, April 8 (Bernama-Xinhua) -- The European Union (EU) is prepared to deploy "every tool" to shield itself from the impact of US tariffs imposed by President Donald Trump if negotiations fail, European Commissioner for Trade and Economic Security Maros Sefcovic said Monday.
"We are prepared to use every tool in our trade defense arsenal to protect the EU single market, EU producers, and EU consumers," Sefcovic told reporters after a meeting of the bloc's trade ministers in Luxembourg, reported Xinhua.
He confirmed that a list of countermeasures would be circulated to EU member states later in the day. A vote on the first set of retaliatory measures is scheduled for April 9, with implementation expected on April 15. A second part is planned for May 15.
The measures are a response to the US decision in March to impose 25 per cent tariffs on steel and aluminum imports.
Although the EU has expressed a preference for negotiations, Sefcovic warned that the bloc would not "wait endlessly." He noted that, despite repeated efforts by the EU, Washington had not shown the level of engagement needed to reach a mutually acceptable resolution.
Sefcovic also said that the EU would not alter its value-added tax (VAT) system, which he described as an important source of income for member states.
--BERNAMA-XINHUA
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