Bloomberg Talks EU Trade Commissioner Maroš Šefčovič Talks International Trade
Dec 15, 2025
Maroš Šefčovič, the European Union Trade Commissioner, joins Oliver Crook to unravel the intricacies of international trade. They explore the ongoing EU-US dialogues on steel and aluminum tariffs, emphasizing solutions to overcapacity. Šefčovič sheds light on the relationship with China, discussing export controls and the establishment of a hotline for supply-chain resilience. He advocates for finalizing the Mercosur trade agreement, highlighting its potential advantages for exporters and the importance of addressing an unsustainable €300 billion trade deficit with China.
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Coordinated Response To Steel Overcapacity
- Maroš Šefčovič says EU and US share a common problem: global steel overcapacity harming both industries.
- He proposes a ‘ring of friends’ trading on MFN or zero tariffs while coordinating safeguards against third-country overcapacity.
Protect Regulation While Ensuring Fair Treatment
- Maroš Šefčovič insists Europe will protect its regulatory sovereignty and treat all companies fairly during digital and competition probes.
- He recommends using settlements over fines and ensuring non-discriminatory treatment of US firms active in the EU.
China Licences And Supply‑Chain Security
- Šefčovič reports growing contact with China on export controls and initial issuance of general licences for critical inputs.
- He warns firms to expect instability, pay a security premium, stockpile, and diversify supply chains.