EU prefers mutually acceptable solution with US on tariffs - Dombrovskis

RIGA - The European Union (EU) prefers to reach a mutually acceptable solution with the US on tariffs before the end of the 90-day partial tariff pause, EU Economic Affairs Commissioner Valdis Dombrovskis (New Unity) said at a meeting with US Treasury Secretary Scott Bessent in Washington DC on Friday.

The politician's office informed LETA that during the bilateral meeting the impact of the US tariffs on the economy was discussed. Dombrovskis pointed out that, according to the European Commission's analysis, the economic impact of the tariffs would be negative for the EU economy, but would have an even more negative impact on the US economy itself. He stressed that tariffs of this magnitude would also have a negative impact on global economic growth.

Dombrovskis stressed at the meeting that the EU would prefer to reach a mutually acceptable solution on tariffs before the end of the 90-day partial tariff pause, as otherwise both the EU and the US economies will suffer.

The two sides also discussed the importance of responsible fiscal policies in both the US and Europe, given the impact of these economies on global growth. Dombrovskis noted that the EU will continue to support Ukraine in its fight against Russian aggression until a just and lasting peace is achieved.

"A lasting peace is also necessary because Russian power brokers are already talking openly about attacking other countries, including EU and NATO members. Accordingly, it is also important for the US to raise awareness of the importance of the Ukraine war in the context of the EU's common security," Dombrovskis said.