The European Union calls for a trade agreement for us based on “respect” after Trump’s identification threats

The head of the European Union Trade said that the 27 -member bloc is committed to securing a trade agreement with the United States based on “respect” and not “threats.”

This comes after US President Donald Trump threatened to slap a 50 % tariff on all goods sent to the United States of the European Union.

“The European Union is fully involved, committed to securing a deal that works for both,” said European Union Trade Commissioner Marus Sevkovic, after a call with commercial actor in the United States.

“The trade of the European Union-the United States is unparalleled and must be guided by mutual respect, not threats. We are ready to defend our interests.”

Earlier on Friday, Trump expressed his patience with the pace of the ongoing commercial negotiations of the European Union and the United States, saying that his plan to raise the definitions on June 1 was appointed.

“Our discussions with them (the European Union) are not going anywhere,” Trump said, adding that there will be no tariff for the products created or manufactured in the United States.

“I am not looking for a deal – we set the deal,” he told reporters at a later time, before he immediately added that a major investment in the United States by a European company may make it open to the delay.

The European Union is one of the largest trade partners in Washington, sending more than 600 billion dollars (528 billion euros; 443 billion pounds) in the goods last year and buying $ 370 billion.

In response to Trump’s threats, European governments have warned that high tariffs will be harmful to both sides.

“We don’t need to go to this way. Negotiations are the best sustainable way forward,” Michelle Martin said in Ireland.

“We maintain the same line: to cancel the escalation, but we are ready to respond,” said French Foreign Minister Laurent Saint Martin.

“We must do everything to ensure that the European Commission has reached negotiations with the United States,” said German Economy Minister Catherina Reish.

Dutch Prime Minister Dick Show told correspondents that he supported the European Union strategy in commercial talks and “we have seen before that the definitions could rise and go down in talks with the United States.”

Last month, Trump announced a 20 % tariff for most European Union goods, but it has passed by half to 10 % until July 8 to allow time for more negotiations.

Trump’s complaints about Europe focused on its unequal trade relationship, as the European Union sells more goods to the United States more than it bought from America.

He blames this trade deficit on the policies that he says is unfair to American companies, and has specifically raised concerns about policies related to cars and agricultural products.

Trump also warned Apple that he would impose an import tax of “at least” on the iPhone that has not been manufactured in America, later expanding the threat of any smartphone.

The shares in the United States and the European Union fell on Friday after the recent threats, as the S&P 500 fell about 0.7 %, Dax and France Cac 40, which ends today by more than 1.5 %.