EU strong enough to resist US tariffs – Scholz

The European Union is strong enough to withstand any tariff threats from the United States. This was stated by German Chancellor Olaf Scholz in an interview with Bloomberg Television.

However, he believes that it would be better to reach an agreement that would avoid a trade war.

‘We are strong enough to react to everything that is harming the European economy. But we should react always in a way that is always offering the chance for an agreement — because it’s better for all parties involved, especially on both sides of the Atlantic,’ Scholz said on the sidelines of the Munich Security Conference.

The German Chancellor noted that the European Commission (EC) invites the US to discuss ways to avoid escalation of the trade dispute.

Germany, the agency notes, is particularly vulnerable to new tariffs due to the significant trade surplus generated by its export-oriented industry and the costs of not using cheap Russian energy.

Scholz explained that Europe is acting together and will stay together, which, in his opinion, is also important.

‘We act together and and we will stick together, which I think is also important. And so I’m quite confident that a good solution is feasible and everyone should work to make it happen,’ he said.

Earlier, Polish Minister of Development and Technology Krzysztof Paszyk said that the EU countries are united and determined to protect the European steel sector from potential market destabilisation following the US general steel tariffs, Kallanish reports. However, the bloc should negotiate with the United States on transatlantic trade barriers, EU trade ministers concluded during a video conference with European Commissioner for Trade and Economic Security Maroš Šefčovič.

Poland holds the rotating EU presidency in the first half of 2025.

As a reminder, at the end of last week, the European Commission said it sees no justification for the proposed policy of ‘reciprocal’ trade tariffs to be introduced by US President Donald Trump and promised to respond strongly to this move. In a statement, the EC said the proposed policy is ‘a step in the wrong direction’.

The bloc stressed that the EU has some of the lowest tariffs in the world, and there is no reason to increase duties on European exports to the United States. According to the European Commission, more than 70% of imported goods enter the EU without customs duties. At the same time, a White House briefing paper focuses on the difference in tariffs on car imports.