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Prospects for Resolving Trade Disputes Between the US and EU

The President of Lithuania expressed hope for a swift resolution to trade conflicts between the US and EU.

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The President of Lithuania, Gitanas Nausėda, expressed hope that the trade conflict between the United States and the European Union could be resolved through prompt negotiations.

In an interview with Lithuanian broadcaster LRT, he stated that "this economic tension, if we may call it that, will end with swift negotiations aimed at minimizing losses".

Nausėda emphasized that "there are no winners in this economic battle, regardless of the reasons that sparked the conflict. This has been proven numerous times throughout history, and the outcome has always remained the same".

Amid rising tensions regarding trade between the US and EU, on March 25, in Washington, EU Trade Commissioner Maroš Šefčovič will meet with his American counterparts – Secretary of Commerce Howard Lutnick and US Trade Representative Jameson Greer.

At the beginning of March, Trump imposed a 25% tariff on steel and aluminum imported from around the world to the US.

In response, the European Commission announced on March 12 that it would implement tariffs on iconic American products like Harley-Davidson motorcycles, jeans, and bourbon.

When Trump threatened the next day to impose 200% tariffs on all "wines, champagne, and alcoholic products" from France and other EU countries, the European Commission decided to postpone its countermeasures until mid-April.