The European Commission is set to reveal its strategy for counteracting U.S. tariffs, according to European Trade Commissioner Maros Sefcovic. The details of the plan will be announced if negotiations with Washington do not succeed.
Sefcovic announced this development on Thursday, during a news conference in Singapore. The announcement came after the signing of a digital trade agreement with Singapore, a southeast Asian country.
The Commissioner stated, "Tomorrow we will announce next preparatory steps, both in the area of possible rebalancing measures, and also in the areas important for the further discussions." This implies that the European Commission is ready to take action to rebalance the trade situation if necessary.