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Budrys: Tariffs are unfortunate - they hurt our economies, our businesses, and our citizens

The meeting focuses on the current trade relations with the US: changes in tariff regulation, the possible EU's countermeasures, and mitigation activity. 

“Tariffs are unfortunate. They hurt our economies, our businesses, and our citizens,” the Minister told journalists ahead of the meeting.

According to Budrys, tariffs will lead to price increases and inflation. Therefore, we have to look for  the solutions regarding our trade with the United States. We should avoid using escalatory countermeasures right away, even though the EU does have such option ready.

“This is not good for either side. Trade between the US and the EU, and mutual investments are the largest in the world. Both sides suffer from global trade deficit and China's policies towards us. So there are the natural grounds to find the joint and common interests and a negotiated solution,” the Minister said.

Budrys stressed the need for Europe to look for measures to mitigate the impactt of tariffs on business, one of the ways to boost EU industry is to increase defence spending, as well as the need to seriously consider the diversification of trade relations and search for new markets.

The head of Lithuania's diplomacy stressed that the EU's unity in this situation was the strength of the EU our Union. According to the Minister, the EU is united and ready to defend the interests of all Europeans.

Doorstep by the Minister of Foreign Affairs of Lithuania: https://newsroom.consilium.europa.eu/events/20250407-foreign-affairs-council-trade-april-2025/148472-doorstep-lt-budrys-20250407