EU Trade Chief Vows to Work With, ‘Stand Up’ to US No Matter Election Result
Maros Sefcovic of Slovakia, the EU’s candidate for trade and economic security commissioner, said this week he would “double down” on defending European industry against “increasingly widespread” unfair practices.
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“Yes, the EU will continue to champion free and fair trade, but we will also be firm and forceful when our businesses get the short end of the stick,” Sefcovic testified at his confirmation hearing before two European Parliament committees in Brussels.
No matter who wins the Nov. 5 American presidential election, Sefcovic said he would put forth an “offer of cooperation” to the U.S., including a proposed revamping of the U.S.-EU Trade and Technology Council, which coordinates trade and technology policy. “At the same time, I will be ready to stand up for our interests if faced with disruptive scenarios,” he said. Although Sefcovic didn't discuss specific presidential candidates, former President Donald Trump’s promise of a new global tariff has fueled speculation that the EU might increase its use of defensive trade policy tools in response (see 2409170048).
Sefcovic said he would seek to resolve disputes with the U.S. in such areas as large civil aircraft, steel, and the “protectionist elements” of the Inflation Reduction Act, “where European companies are excluded from some of the very generous subsidy schemes offered” by the U.S. “First and foremost, we have to talk to each other as allies and to clearly put it on the table this is very important for us,” he said.
Sefcovic described China as the EU’s “most challenging trading partner,” and said he would seek to “rebalance” the EU’s relationship with China to promote transparency, predictability and reciprocity. “This means being more assertive in challenging China’s structural imbalances and unfair practices, such as non-market policies driving overcapacity,” he said. “We need a level playing field.”
Sefcovic’s other priorities would include evaluating the effectiveness of export controls, gaining a better understanding of outbound investment risks, countering Russia’s sanctions evasion, completing pending new free-trade agreements with Australia and Mexico, reforming the World Trade Organization, getting more European small and medium-sized enterprises involved in exporting, and accelerating the start date of the EU’s new customs authority by two years, to 2026.
Sefcovic, who is currently the European Commission’s executive vice president for the European Green Deal, touted the benefits of trade, saying over 30 million European jobs are supported by exports. "Put simply, trade helps the EU to prosper," he said.
If confirmed, Sefcovic would replace Latvia's Valdis Dombrovskis, who has been nominated to be the EU’s economy commissioner.