Denmark Braces for Possible Trade War with U.S.
(MENAFN) Denmark is signaling its readiness to safeguard its economic interests should a trade dispute escalate with the United States. Foreign Minister Lars Løkke Rasmussen, as reported by state news outlet, affirmed on Friday that "Denmark and the rest of the EU are ready to defend their interests in a possible trade war with the US." However, Rasmussen underscored a preference for diplomacy, adding that "The EU wants, first and foremost, to pursue dialogue and negotiate a solution."
Rasmussen further elaborated that while the European Union remains committed to negotiating a resolution, it is also poised to respond with "robust and proportional" measures if necessary to protect its interests.
This stance follows recent comments from U.S. President Donald Trump, who indicated that tariff discussions with the EU "are going nowhere." Trump suggested implementing a 50% tariff against the EU, effective June 1.
The U.S. President took to social media to express his frustrations, stating, "The European Union, which was formed for the primary purpose of taking advantage of the United States on trade, has been very difficult to deal with." He lambasted what he described as the EU's "powerful trade barriers, VAT taxes, ridiculous corporate penalties, non-monetary trade barriers, monetary manipulations, unfair and unjustified lawsuits against American companies, and more," asserting that these practices contribute to an annual trade deficit with the US exceeding $250 billion, which he deemed "totally unacceptable."
Previously, on April 2, the EU faced a 20% tariff rate, though these tariffs were later suspended for all countries except China. Tariffs on China were also suspended following discussions in Geneva earlier this month.
The U.S. president has been actively forging trade agreements with other nations, including a recent deal with the UK earlier in May.
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