Former U.S. President Donald Trump proposed a plan to impose a minimum 10% tariff on all EU goods during his campaign, a proposal that sparked a high level of concern and caution in the EU. In order to address this possible trade shock, the EU is actively preparing a new trade strategy to protect its economic interests and ensure balanced trade relations with the United States.

According to sources inside the EU, the European Commission is developing a detailed list of commodities in response to Trump’s possible new tariff policies. If Trump wins the US presidential election in 2024 and decides to raise tariffs, the EU will act quickly to provide the United States with a list of commodities listing the EU may raise tariffs to 50% or higher in commodity categories. This initiative aims to demonstrate the EU’s firm stance on trade issues, while also hoping to seek a peaceful solution through negotiations.

The EU hopes to negotiate with the Trump team as soon as possible after the presidential election to discuss how to balance the trade gap between the EU and the United States. The EU’s goal is to reduce the trade deficit by buying more U.S. goods to avoid a new round of tariff war. A senior EU Commission official said: “We must show that we are a partner of the United States, not a problem. We will seek to reach an agreement but are also prepared to defend ourselves when necessary.”

In order to ensure the effectiveness of the response measures, extensive strategic development and coordination is underway within the EU. Trade ministers and relevant officials from the EU member states are working closely together to assess the possible impact Trump has on the EU economy and to develop corresponding response measures. The European Commission is collecting views and recommendations from member states to ensure that the new trade strategy fully protects the interests of the EU.

In talks with the Trump team, the EU will focus on discussing which U.S. goods can increase imports to reduce trade deficits. The EU may consider increasing imports of agricultural products, energy products and high-tech products from the U.S. By increasing imports of these goods, the EU hopes to balance trade relations while meeting market needs within the EU.

While the EU hopes to resolve trade disputes through negotiations, the EU is also preparing for the worst. If Trump decides to impose high tariffs, the EU will quickly take self-defense measures to raise tariffs on some U.S. goods. The European Commission has begun to study which U.S. goods can be targeted as retaliatory tariffs to ensure that EU economic interests can be effectively protected during a trade war.

Despite facing potential trade conflicts, the EU still hopes to maintain close economic cooperation with the United States. The EU emphasizes that the two sides should address trade issues in the spirit of partnership rather than escalate tensions through confrontation and sanctions. A spokesman for the European Commission said: “We want to resolve differences through constructive dialogue and jointly promote global economic stability and development.”

Overall, the EU is fully preparing for the trade challenges that Trump’s coming to power could bring, actively responding to potential tariff policy changes by developing new trade strategies and ensuring stability and advantage in global trade.