EU President Ursula von der Leyen indicates urgency in US trade discussions following President Trump’s tariff threats, signaling the need for cooperation amid rising tensions.
EU Trade Talks on Fast Track but Deadline Set Until July 9
EU Trade Talks on Fast Track but Deadline Set Until July 9
The EU aims for a swift trade agreement with the U.S. but needs until July 9 for negotiations.
In a significant move towards resolving trade tensions, Ursula von der Leyen, the President of the European Commission, announced that the EU is prepared to expedite discussions with the United States to reach an agreeable trade deal. During a recent phone call with U.S. President Donald Trump, von der Leyen expressed a commitment to swiftly advance negotiations but emphasized the necessity of time, stating the bloc needs until July 9 to finalize a deal deemed beneficial.
The call took place shortly after Trump had vocalized frustration over the slow pace of negotiations, threatening to implement steep tariffs of up to 50% on EU goods by June 1. Previously, Trump had enacted a 20% tariff on a wide array of EU imports but later reduced it to 10% until July 8 in an effort to encourage ongoing discussions.
Reaffirming the EU's determination, trade chief Maroš Šefčovič reiterated the bloc's dedication to a fair and respectful trading relationship, stressing that EU-U.S. trade is vital and should not be overshadowed by threats. “The EU is fully engaged and committed to securing a deal that works for both partners,” he stated, urging for mutual respect in discussions while highlighting the significant trade volume between the two regions.
Despite attempts to alleviate tensions earlier in the year by pausing certain tariffs, the U.S. has maintained a 25% levy on imported EU steel and aluminum. Trump’s ongoing criticisms of what he perceives as an inequitable trade relationship have escalated concerns, particularly regarding U.S. automotive and agricultural exports.
As Europe faces these challenges, leaders from France and Germany are advocating for diplomatic solutions, warning that escalated tariffs could inflict harm on both the EU and U.S. economies. The bloc has also considered retaliatory measures, temporarily holding off on a planned 25% tariff on approximately $20 billion of U.S. products while planning further consultations on additional tariffs against U.S. imports valued at nearly $95 billion. The trade saga unfolds as both sides look for resolution amid rising pressures.
The call took place shortly after Trump had vocalized frustration over the slow pace of negotiations, threatening to implement steep tariffs of up to 50% on EU goods by June 1. Previously, Trump had enacted a 20% tariff on a wide array of EU imports but later reduced it to 10% until July 8 in an effort to encourage ongoing discussions.
Reaffirming the EU's determination, trade chief Maroš Šefčovič reiterated the bloc's dedication to a fair and respectful trading relationship, stressing that EU-U.S. trade is vital and should not be overshadowed by threats. “The EU is fully engaged and committed to securing a deal that works for both partners,” he stated, urging for mutual respect in discussions while highlighting the significant trade volume between the two regions.
Despite attempts to alleviate tensions earlier in the year by pausing certain tariffs, the U.S. has maintained a 25% levy on imported EU steel and aluminum. Trump’s ongoing criticisms of what he perceives as an inequitable trade relationship have escalated concerns, particularly regarding U.S. automotive and agricultural exports.
As Europe faces these challenges, leaders from France and Germany are advocating for diplomatic solutions, warning that escalated tariffs could inflict harm on both the EU and U.S. economies. The bloc has also considered retaliatory measures, temporarily holding off on a planned 25% tariff on approximately $20 billion of U.S. products while planning further consultations on additional tariffs against U.S. imports valued at nearly $95 billion. The trade saga unfolds as both sides look for resolution amid rising pressures.
