Good afternoon, everyone. Close coordination with Member States is essential as we navigate an increasingly challenging global trade environment.

I am grateful for todays productive discussion on three key topics: our engagement with the United States, ongoing trade negotiations, and economic security.

Lets begin with the EU-US trade relationship:

From the start, we have focused on achieving a mutually beneficial solution to the tariffs.

Its encouraging that we are actively engaging at both expert and political levels.

Just yesterday, I had a constructive conversation with Commerce Secretary Howard Lutnick on potential areas for an agreement. I am also in close contact with Ambassador Jamieson Greer, whom I hope to meet in Europe.

My starting point is simple: the EU and the US share a unique trade and investment bond and face the same challenges, so joint solutions make sense.

We are looking at this from every angle to ensure a fair, balanced, and lasting outcome, aiming for a comprehensive deal addressing the full scope of US tariffs.

The scale of our relationship makes these negotiations unique. So, whatever we sign should resolve the current situation and provide long-term benefits.

We have made it clear that countermeasures are not our first choice.

We are currently consulting stakeholders on a list of rebalancing measures. We gather input, analyze thoroughly, and proceed carefully – nothing is automatic.

Any rebalancing measures under consideration are solely meant to level the playing field if we do not reach a deal – letting the current imbalance persist indefinitely is not an option.

On trade diversion, we are closely monitoring developments in real-time.

We are analyzing import data, focusing on sensitive products. Its too early for firm conclusions, but we remain vigilant.

Regarding the diversification of our trade relationships:

We focus on reaching commercially meaningful agreements tailored to each partner. Our offer expands beyond traditional FTAs to digital agreements, sustainable investment facilitation agreements, and Clean Trade and Investment Partnerships.

There is no time to waste, as we want to open new markets for our businesses. By doing so, we strengthen the EUs position in global trade and the rules-based trading system for the long haul.

In this context, I have discussed with Member States how to accelerate our internal procedures and encouraged them to move forward with the outstanding ratification of existing agreements, such as CETA with Canada and investment protection agreements with Singapore and Vietnam.

Lets not overlook the power of what we already have.

The EU holds the worlds largest network of trade agreements – 44 FTAs with 76 countries, covering 44% of our global trade.

Its a strong asset. Lets put it to full use.

Finally, on economic security:

In todays geopolitical context, we must ensure that our supply chains can withstand external shocks – whether economic or political pressures.

Resilience is no longer a choice. It is a must. Strengthening it requires close collaboration with like-minded partners, with industry, and above all, with our Member States.

We are conducting in-depth risk assessments across strategic domains – from supply chains to sensitive technologies, critical infrastructure, and external dependencies.

This also requires a fresh, hard look at the tools we have. Today, I have highlighted the need for a robust, ambitious revision of the Foreign Direct Investment Screening Regulation, in particular – to safeguard our security and public order interests.

To conclude, I want to appreciate the excellent cooperation with the Presidency, our Member States, and their support for the Commissions work.