EU Commission head discusses U.S. tariff response with auto, steel and pharma executives

By Julia Payne and Maggie Fick

BRUSSELS/LONDON (Reuters) - European Commission President Ursula von der Leyen held a telephone with metals manufacture representatives connected Monday and was speaking to the automobile assemblage aboriginal to sermon however to respond to U.S. tariffs, sources and a missive showed.

The calls aimed to cod much information to strategise further commercialized counter-measures beyond Brussels' upcoming effect to Washington's antecedently announced alloy duties, which volition beryllium voted connected aboriginal this week. A 3rd telephone with the European pharmaceuticals manufacture is planned for Tuesday.

Asian equity markets sank, European shares crashed to a 16-month debased and lipid prices plummeted connected Monday arsenic investors feared the duties Trump announced past week could pb to higher prices, weaker request and perchance a planetary recession.

Von der Leyen's invitation missive said the EU would aboriginal this twelvemonth suggest "a commercialized measurement replacing the alloy safeguards arsenic of 1 July 2026, providing a highly effectual level of extortion against antagonistic trade-related effects caused by planetary overcapacities".

"The views from the assemblage volition beryllium cardinal successful further elaborating our communal effect to the U.S. tariffs," she added.

The telephone with the European car manufacture was scheduled for 3:30 p.m. (1330 GMT), according to ACEA, the manufacture radical successful Brussels.

A spokesperson for ACEA said the Commission wanted to “gather [industry] investigation connected the imaginable interaction of U.S. tariffs connected the EU automotive assemblage and to research proposals for the astir effectual EU response”.

The radical person requested a negotiated solution, the spokesperson added.

The telephone was acceptable to see lobby groups arsenic good arsenic CEOs and chairs from BMW, Volkswagen, Stellantis, Scania, Daimler Truck and Bosch.

Late past week, the European Commission initially invited the main executives of EU-headquartered large pharma companies for a meeting, 3 manufacture sources acquainted with the substance told Reuters.

A 4th root said the Commission whitethorn person aboriginal extended invitations to Swiss-based firms specified arsenic Novartis and Roche. Reuters was not instantly capable to corroborate this. Roche declined to comment.

The European large pharma commercialized lobby EFPIA and the European biotech lobby radical Europabio some confirmed to Reuters that their respective directors wide are attending.

An invitation missive received by a subordinate said the gathering was scheduled for 10:30 a.m. (0830 GMT) connected Tuesday.

(Reporting by Julia Payne and Maggie Fick; Editing by Kevin Liffey)