US tariffs: Luxembourg builds on the cohesion of Europe

The course euphoria on the judgment of the Court of International Trade regarding the far-reaching customs agenda of US President Donald Trump was only brief. Not only because the subsequent counter -judgment of the Federal Reporting Court only grants a temporary postponement or because the White House has its own information about other powers to enforce similar tariffs. Rather, it increases the likelihood that the already high degree of uncertainty will continue to burden investments and growth.

« This judgment does not make the EU talks easier. The bluff of the 50 percent tariffs on Europe, which accelerated the conversations, now looks like a much slower threat. If this had occurred a month ago, the markets in the high single-digit range would have risen. I am therefore less convinced that this is positive in the medium term. Privorototky that happened.

What does Trump actually want?

« We just don’t know where Donald Trump wants to go with his unpredictability, » said the President of the « Commission of the Affair Étrangères et Européennes », Gusty Graas (DP), opposite the « Luxemburger Word » after the joint session with the Minister of Economics Xavier Bettel (DP), and Economic Minister Lex Delles (DP) was present.

One always has to keep in mind that Luxembourg would « only » move into three percent of goods from the United States, according to Graas, but the EU would be over 90 percent. The situation is still taken extremely seriously, emphasizes Graas, who underlines that the commissions agreed with the ministers to further strengthen the EU internal market.

Graas rejected that companies had already made contact and discussions with the American side independently.

The unity of the EU was also highlighted by Jeff Boonen (CSV), a member of the business commission, as a big plus. « This is a positive aspect – also with a view to the possible sanctions and countermeasures in the form of taxes on certain products, » sums it up.

Therefore, the European Union should not be divided apart, as Trump intends, according to the CSV politician with a view to the internal market. « But we have to be aware that raw materials are also missing here that we cannot move into through this path, » notes Boons – reliable trading partners are therefore very important.

Sharp criticism

As is well known, the EU has severe criticism of the new customs announcement by US President Donald Trump and threatens to react before the summer. « We regret the announced increase in US tariffs to steel and aluminum imports from 25 to 50 percent, » said a spokesman for EU Commission responsible for EU trade policy in Brussels. It undermines the ongoing efforts for a negotiating solution in the trade dispute, creates additional uncertainty for the global economy and increases the costs for consumers and companies on both sides of the Atlantic.

The EU was ready to take countermeasures, it said. This could also happen earlier than on July 14th. According to the current status, the EU would automatically come into force on this date, which were already planned for Trump’s first pay decisions.

The EU had actually wanted to put these measures into force on April 14, but then exposed them after Trump granted many states and the EU for 90 days. This time window should actually be used for negotiations. The EU had already emphasized several times that it would introduce decisive measures against US tariffs if the negotiations fail.

Ignorance?

With a view to the US customs policy and the Luxembourg situation, the Pirate MP Sven Clement, member of the business commission, cited the poet prince Johann Wolfgang von Goethe after the meeting: « I am now, I’m poor gate, and I am so smart as before! »

There wasn’t much new. « We let ourselves be driven pragmatically, » says the Pirate MP. The existing ignorance of the whole situation is terrifying.

The Pirate politician doesn’t think too much of a possible deal: « How should it look if you don’t know what Trump actually wants? » -This against a background that the US President actually damage the American economy with his actions more than others and the judicial situation is not manageable.