In a scathing rebuke, US Treasury Secretary Steven Bessent has lambasted the European Union’s proposed tariff response, describing it as the work of the “dreaded European working group”. Bessent’s comments come amidst an escalating trade dispute between the world’s two largest economies.
Addressing a gathering of business leaders, Bessent expressed his disdain for the EU’s approach, stating that the “dreaded European working group” had produced a “feeble” and ineffective counter to the Trump administration’s trade actions. The Treasury Secretary argued that the EU’s proposed tariffs, which target a range of American goods, would do little to address the underlying issues driving the current tensions.
“This is not the kind of robust, meaningful response we were expecting from our European partners,” Bessent said. “The ‘dreaded European working group’ has once again demonstrated its inability to take decisive action in the face of US trade policies.”
The EU’s proposed tariffs, which are set to target a variety of American products, including agricultural goods, machinery, and chemicals, are a direct response to the Trump administration’s decision to impose steep tariffs on European steel and aluminium exports. The move has sparked a tit-for-tat trade war, with both sides vowing to escalate their respective actions.
Bessent’s scathing remarks underscore the growing divide between the US and its European allies on the issue of trade. The Treasury Secretary’s comments echo the Trump administration’s broader criticism of multilateral institutions and its preference for a more unilateral approach to trade policy.
“The EU’s response is simply not enough to address the fundamental imbalances in our trade relationship,” Bessent said. “We need bold, decisive action, not the kind of timid, bureaucratic posturing we’ve come to expect from the ‘dreaded European working group’.”
The ongoing trade dispute has raised concerns about the potential impact on the global economy, with both the US and EU warning of the risks of a prolonged trade war. As the two sides continue to spar, the future of the transatlantic economic relationship hangs in the balance.
