Mr. Trump announced a 30% tariff on imports from the EU and Mexico, prompting concerns about a possible trade war. Mr. O'Brien noted that negotiations between the EU and US have been positive, aiming for a deal before the tariff begins on August 1. He emphasized that tariffs are disadvantageous and expressed hope for continued respectful dialogue. The uncertainty around these tariffs is adversely affecting economic investment, yet he urged against overreacting, framing the situation as a potential negotiation opportunity.
Mr O'Brien stated that tariffs are "good for no one," emphasizing the importance of respectful dialogue and negotiations between the EU and the US to avoid trade conflict.
The EU and US enjoy the biggest economic relationship which is beneficial for both sides, and it is crucial to conclude a trade deal before the looming 30% tariff.
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