Trump's Trade War Gets EU Ready To Negotiate On Tariffs – ‘We Have Offered Zero-For-Zero Tariffs For Industrial Goods…’

As President Donald Trump’s administration remained defiant on its tariff threats, the European Union seems to be gearing up to come to the table and devise a solution that works for the U.S., one of its largest trading partners.

Welcoming Norwegian Prime Minister Jonas Gahr Støre, European Commission President Ursula von der Leyen underscored that the bloc is “ready to negotiate” with the Trump administration to get a good deal for the European Union.

“We have offered zero-for-zero tariffs for industrial goods as we have successfully done with many other trading partners. Because Europe is always ready for a good deal. So we keep it on the table,” von der Leyen said.

This is a softer stance than what some of the EU’s biggest members have been talking about.

For instance, Germany’s Economy Minister Robert Habeck urged the bloc to look “far beyond tariff policy,” pointing to digital services aimed at U.S.’s big technology companies, according to a Bloomberg report.

Despite offering to resolve the tariff war through talks, von der Leyen said the EU stands ready to “respond through countermeasures and defend our interests.”

The EC president underscored that while the bloc tries to talk it out with the Trump administration, it is looking at diversifying its trade interests, doubling down on talks with other major economies such as India, Indonesia, and “many others.”

Von der Leyen’s words failed to reassure investors in Europe, with the CAC 40 and DAX Performance indices declining over 4% at the time of writing.

In the U.S., the S&P 500 was down 1.3%, while the Nasdaq 100 fell 0.8%. The Dow Jones was down nearly 2%.

The SPDR S&P 500 ETF Trust (SPY), which tracks the S&P 500, was down 0.9%.

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Also See: Trump Tariffs: Here's What JPMorgan CEO Jamie Dimon Said About The Impact On Inflation, US Economy