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DAVOS-EU’s Malmstrom confident US auto tariffs won’t materialise

Cecilia Malmstrom

European Trade Commissioner Cecilia Malmstrom said on Thursday she was confident that the United States would not follow through on its threat to slap tariffs on European cars, but added that the EU was ready to respond if it did.

U.S. President Donald Trump has threatened to impose tariffs on cars from around the world, as he did with aluminium and steel last March, but European Commission President Jean-Claude Juncker negotiated a “ceasefire agreement” last July.

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Malmstrom, speaking at a panel event at the World Economic Forum in Davos, said the Trump-Juncker agreement, which delayed the tariffs while trade talks took place, had tried to find common ground.

“We’re advancing, we have made some very important progress there and there’s a process that is positive, I think, and it said also that we would not impose tariffs on each other,” Malmstrom said.

“If that is violated by the U.S., we will have to respond. I don’t want to do that. But we will have to do that. But we are confident that we will not be taxed on this.”

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