Source Link
Excerpt:
The European Union is considering a temporary trade agreement with the United States that would maintain a 10 percent tariff on most exports, according to a briefing by the European Commission to EU ambassadors on Friday, reported news portal Politico.The update came after a key round of negotiations in Washington on Thursday, where EU trade commissioner Maroš Šefčovič aimed to defuse US President Donald Trump’s threat to impose a sweeping 50 percent tariff on all European imports starting July 9, if a deal is not reached.Talks will continue on potential exemptions for certain sectors, including the automotive industry, two national officials familiar with the discussions said, according to the news portal..However, the outcome was seen as underwhelming in several European capitals, especially after earlier signals from the Commission’s negotiating team that some industries could receive immediate tariff relief. The US currently imposes tariffs of 25 percent on cars and 50 percent on steel and aluminum imports.
EU remains divided
Despite intensive negotiations, reaching a consensus on a trade agreement with the United States remains challenging for European Commission President Ursula von der Leyen, amid ongoing divisions among EU member states over how to proceed. According to three diplomats, all possibilities, including a failure to reach any deal, are still being considered.In a fresh twist, US officials have reportedly threatened to impose a 17 percent tariff on European food imports, two national officials confirmed, backing a report by the Financial Times.Von der Leyen is expected to hold one-on-one consultations with EU leaders over the weekend before deciding on the bloc’s next steps, one official said. Meanwhile, Trump is likely to meet with his advisers on Monday, meaning any official announcement would be delayed until after those discussions.
.jpg%2F500px-Donald_Trump_(53953173435).jpg&f=1&nofb=1&ipt=1eb09485c9f1cd57919082677e15526c735bd86eb8152493e737ff4709ce030d)
