The European Union's deregulation is not just about pleasing Washington, Danish Foreign Minister Lars Løkke Rasmussen said in an interview with “Politico“. According to him, Brussels should loosen its own rules while protecting its independence from external pressure, News.bg reports.
“It's like a Kinder egg. It serves more than one purpose,“ Rasmussen noted.
“We have to take this path in our own interest, but it also serves the interests of others.“
The statement was made ahead of a key meeting of EU leaders, where deregulation will take center stage. They are expected to call on the European Commission to accelerate efforts to cut red tape, a step the Danish minister says is vital to maintaining Europe's competitiveness.
“If our investors are greeted with a red carpet in the US and with red tape in Europe, they will ultimately choose the US“, Rasmussen said.
Brussels has been cutting red tape in the environmental sector for more than a year to restore the competitiveness of European industries against American and Chinese competitors. Nine simplification packages are currently being developed, covering the defense, environment and digital sectors.
Transatlantic tensions and the China factor
The EU rules have angered President Donald Trump, who has threatened to raise tariffs for allegedly discriminating against American companies. France and Germany are backing a campaign for deregulation, including in the environmental field.
At the same time, Brussels is trying to keep Washington on its side by presenting deregulation as a self-imposed policy review rather than a concession under pressure.
Rasmussen made his remarks at a meeting of EU trade ministers in Denmark, which holds the EU Council presidency. The meeting was overshadowed by China's moves to restrict exports of rare earth elements, further complicating the EU's situation amid a rift between the US and China. Brussels has called on the G7 to coordinate its response to the restrictions.
A trade deal with Washington and future negotiations
Rasmussen rejected the idea of a clause that would allow the EU to review the terms of a post-Trump trade deal. According to him, such a step would not change reality.
“I live in the real world and we have to deal with the current US administration“, he said.
A similar position was shared by Thomas Byrne, Ireland's Minister for European Affairs:
“The inclusion of review clauses is not in the interest of European citizens.“
The European Parliament has insisted on an analysis of the terms granted to the Trump administration, following criticism that the transatlantic deal is skewed in favor of the US.
Rasmussen did not rule out the possibility of renegotiating the deal in the future - but only when the effects of US trade protectionism begin to be felt in American society.
“I am sure that in the medium term we will see the consequences of this strategy in the US. "Then we must be ready to renegotiate things," the former Danish prime minister said.