EU Commission, auto sector chiefs examine US tariff response
CEOs of EU-headquartered big pharma companies have also been invited for a meeting
07 April 2025 - 15:53
byJulia Payne and Maggie Fick
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Newly manufactured cars of the automobile maker Subaru awaiting export are parked at a port in Yokohama, south of Tokyo. File photo: REUTERS/ISSEI KATO
Brussels/London — European Commission president Ursula von der Leyen held a call with metals industry representatives on Monday and was speaking to the automobile sector later to discuss how to respond to US tariffs, sources and a letter showed.
The calls aimed to collect more data to strategise further trade countermeasures beyond Brussels’ upcoming response to Washington’s previously announced steel duties, which will be voted on later this week. A third call with the European pharmaceuticals industry is planned for Tuesday.
Asian equity markets sank, European shares crashed to a 16-month low and oil prices plummeted on Monday as investors feared the duties US President Donald Trump announced last week could lead to higher prices, weaker demand and potentially a global recession.
Von der Leyen’s invitation letter said the EU would later this year propose “a trade measure replacing the steel safeguards from July 1 2026, providing a highly effective level of protection against negative trade-related effects caused by global overcapacities”.
“The views from the sector will be key in further elaborating our common response to the US tariffs,” she said.
The call with the European auto industry was scheduled for Monday afternoon, according to ACEA, the industry group in Brussels.
A spokesperson for ACEA said the commission wanted to “gather analysis on the possible impact of US tariffs on the EU automotive sector and to explore proposals for the most effective EU response”.
The group has requested a negotiated solution, the spokesperson said.
The call was set to include lobby groups as well as CEOs and chairs from BMW, Volkswagen, Stellantis, Scania, Daimler Truck and Bosch.
Late last week, the European Commission initially invited the CEOs of EU-headquartered big pharma companies for a meeting, three industry sources familiar with the matter said.
A fourth source said the commission may have later extended invitations to Swiss-based firms such as Novartis and Roche. Reuters was not immediately able to confirm this. Roche declined to comment.
The European Federation of Pharmaceutical Industries & Associations and the European biotech lobby group Europabio both confirmed that their respective directors-general are attending.
An invitation letter received by a participant said the meeting was scheduled for Tuesday morning.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
EU Commission, auto sector chiefs examine US tariff response
CEOs of EU-headquartered big pharma companies have also been invited for a meeting
Brussels/London — European Commission president Ursula von der Leyen held a call with metals industry representatives on Monday and was speaking to the automobile sector later to discuss how to respond to US tariffs, sources and a letter showed.
The calls aimed to collect more data to strategise further trade countermeasures beyond Brussels’ upcoming response to Washington’s previously announced steel duties, which will be voted on later this week. A third call with the European pharmaceuticals industry is planned for Tuesday.
Asian equity markets sank, European shares crashed to a 16-month low and oil prices plummeted on Monday as investors feared the duties US President Donald Trump announced last week could lead to higher prices, weaker demand and potentially a global recession.
Von der Leyen’s invitation letter said the EU would later this year propose “a trade measure replacing the steel safeguards from July 1 2026, providing a highly effective level of protection against negative trade-related effects caused by global overcapacities”.
“The views from the sector will be key in further elaborating our common response to the US tariffs,” she said.
The call with the European auto industry was scheduled for Monday afternoon, according to ACEA, the industry group in Brussels.
A spokesperson for ACEA said the commission wanted to “gather analysis on the possible impact of US tariffs on the EU automotive sector and to explore proposals for the most effective EU response”.
The group has requested a negotiated solution, the spokesperson said.
The call was set to include lobby groups as well as CEOs and chairs from BMW, Volkswagen, Stellantis, Scania, Daimler Truck and Bosch.
Late last week, the European Commission initially invited the CEOs of EU-headquartered big pharma companies for a meeting, three industry sources familiar with the matter said.
A fourth source said the commission may have later extended invitations to Swiss-based firms such as Novartis and Roche. Reuters was not immediately able to confirm this. Roche declined to comment.
The European Federation of Pharmaceutical Industries & Associations and the European biotech lobby group Europabio both confirmed that their respective directors-general are attending.
An invitation letter received by a participant said the meeting was scheduled for Tuesday morning.
Reuters
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