Rome, July 14 (LaPresse) – The EU "must negotiate with its head held high, knowing that it is in everyone's interest to avoid a trade war. Europe needs America and vice versa." This is what Foreign Minister and Deputy Prime Minister Antonio Tajani said in an interview with Il Messaggero regarding the 30% tariffs on the EU announced by Donald Trump.
The postponement of European counter-tariffs until August 1, according to Tajani, is "a very wise decision. Firmness is not demonstrated through reckless reactions but through strong negotiations." Tajani explains that to reach an agreement quickly, "a framework agreement could be reached, as the United Kingdom did, and in the following months, a technical negotiation could take place on individual trade issues."
To protect European companies, the Foreign Minister notes, "A new expansive policy by the ECB could be useful, which would cut interest rates but, above all, proceed with the purchase of bonds, possibly to finance defense programs, industrial policy – such as reducing energy costs – and healthcare." Is it a 2.0 version of quantitative easing? "It could be a way," Tajani observes, "it has already been done in response to the COVID pandemic. The alternative is to take on more European debt, but as is well known, several countries, starting with Germany, are against it."
Tajani disagrees with what his fellow Deputy Prime Minister, Matteo Salvini, said, regarding the "madness of Brussels" hurting Italy more than U.S. tariffs. "Europe has nothing to do with U.S. tariffs," he comments. "We can criticize EU policies that harm our companies, like some excesses of the Green Deal, but this Commission, thanks to the 14 commissioners from the European People's Party, has already corrected its course."