EU Trade Chief Wants To Avoid Trade War With US After Trump Slaps 30% Tariffs, But Says It 'Takes Two Hands To Clap'

The European Union’s Trade Commissioner, Maros Sefcovic, on Monday asserted that the bloc wants to avoid a trade war with the U.S., days after President Donald Trump hit the EU with 30% tariffs.

While addressing a press conference, Sefcovic reiterated that the EU has made efforts to bring the bloc and the U.S. closer to a trade deal, according to a Reuters report.

“We do not want a trade war with the U.S. We want to avoid it,” Sefcovic said. “But as I said before, it takes two hands to clap.”

Sefcovic expressed hope that there is still potential to keep the negotiations going, but warned that President Trump’s tariff letter has “triggered very strong waves in Europe.”

Sefcovic has been leading the tariff negotiations on the EU’s behalf.

Despite being close allies and trade partners, the Trump administration has been vocal in its criticism of the EU. At one point, President Trump threatened to impose 50% tariffs on all EU imports into the U.S.

Until the 30% tariffs kick in from August 1, steel and aluminum exports from the EU attract a 50% tariff, while cars have a levy of 25%. Most other goods carry a 10% charge.

White House economic advisor Kevin Hassett described President Trump’s 30% tariffs on the EU as a “line in the sand” moment.

“The president thinks that deals need to be better,” Hassett said in an ABC interview. “And to basically put a line in the sand, he sent these letters out to folks, and we'll see how it works out.”

Meanwhile, U.S. equities remained on the tenterhooks in Monday’s midday trade amid increasing trade tensions.

At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, gained 0.07%, while the Invesco QQQ Trust (QQQ) rose 0.23% after hovering in the red during the morning trade. Stocktwits data shows retail sentiment around the S&P 500 ETF has been in the ‘bullish’ territory over the past week.

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