India A Safe Investment In A World Where Trade and Tech Are Being Weaponised: EU Envoy
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Mint
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Trump says US-EU trade deal is close — But sticking points remain
US President Donald Trump on Sunday expressed optimism over reaching a trade deal with the European Union, even as the clock ticks toward an August 1 deadline that could trigger sweeping tariffs on EU exports to the United States. Speaking at the start of a high-stakes meeting with European Commission President Ursula von der Leyen at his Turnberry golf resort on Scotland's western coast, Trump said there was a 'good chance' of striking an agreement, despite 'three or four main sticking points' — most notably around what he called 'fairness' in car and agricultural exports. US President Donald Trump on Sunday expressed confidence that the United States and the European Union could strike a trade deal, even as a looming August 1 deadline threatens to trigger sweeping tariffs on EU exports. Trump said at the start of a meeting with European Commission President Ursula von der Leyen at his Turnberry golf resort in Scotland that 'three or four main sticking points' remain, with the key issue being 'fairness,' particularly regarding barriers to US car and agricultural exports. Von der Leyen acknowledged that talks were balanced on a knife's edge, saying there was a '50-50' chance of securing an agreement before the deadline. 'President Trump is a tough negotiator and dealmaker,' she said ahead of the meeting. 'If we reach an agreement, it will be the biggest deal either of us has done.' She also emphasised that any deal would need to be based on fairness and a rebalancing of the current trade relationship between the two economies. The high-stakes meeting comes amid escalating pressure from Washington, which has threatened to impose a 30% across-the-board tariff on EU goods unless a deal is reached. Currently, EU exports already face tariffs of 25% on automobiles, 50% on steel and aluminum, and an additional 10% on other goods. The European Commission, representing all 27 EU member states, has been striving to avoid further economic strain and prevent retaliation, while preserving a transatlantic trade relationship worth approximately $1.9 trillion annually. Sunday's face-to-face meeting between Trump and von der Leyen was a last-ditch effort to avoid a transatlantic trade rupture. A breakthrough, if reached, could avert what both sides view as a damaging trade war and offer a path forward for stabilizing US-EU relations amid broader geopolitical tensions.
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Business Standard
an hour ago
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A shift in mindset: India-UK trade deal paves way for those with EU, US
The question is how much this shift in mindset can be applied now to other trading partners, particularly the European Union (EU) Business Standard Editorial Comment Mumbai Listen to This Article On Prime Minister Narendra Modi's visit to the United Kingdom (UK) last week, India and the UK finalised and signed a Comprehensive Economic and Trade Agreement, which appears to be the most expansive trade deal that India has agreed to in recent years. A free-trade agreement (FTA) between the two countries has been under discussion for some years now. Negotiations were formally launched in January 2022; then UK Prime Minister Boris Johnson had hoped to have it 'done by Diwali' that year. But in fact, informal discussions had been going on since even before Britain voted to leave the European
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First Post
an hour ago
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US, EU trade talks begin in Scotland as von der Leyen seeks deal with Trump
US President Donald Trump and European Commission President Ursula von der Leyen convened in Scotland on Sunday in a bid to resolve a prolonged transatlantic trade row. read more US President Donald Trump and European Commission President Ursula von der Leyen met in Scotland on Sunday to push forward high-stakes trade negotiations with both sides under pressure to avert a transatlantic tariff clash before an August 1 deadline. The talks come after weeks of intense back-and-forth between Washington and Brussels as the EU seeks to strike a deal that would shield key sectors, particularly automobiles, pharmaceuticals and industrial goods from sweeping new US tariffs. STORY CONTINUES BELOW THIS AD Trump has threatened to impose fresh 30% tariffs on EU goods if an agreement is not reached by Friday, on top of existing levies including 25% on cars and parts and 50% on steel and aluminium. He has maintained that the EU has treated the US unfairly and warned that without a deal, punitive measures would go ahead. Despite the rising stakes, Trump said the chances of a deal were '50-50', while calling von der Leyen a 'highly respected woman' and expressing hope that the meeting would be productive. Speaking from his Turnberry resort on Friday, he said that there were '20 sticking points' in the negotiations but declined to elaborate. The EU, the United States' largest trading partner, exported €532 billion ($603 billion) worth of goods to the US in 2024, with pharmaceuticals, auto components, and chemicals among the biggest categories. The two sides exchanged a total of €1.6 trillion ($1.8 trillion) in goods and services last year, underscoring the magnitude of what's at stake. In preparation for Sunday's talks, EU negotiators consulted with Japanese officials, whose recent deal with Washington secured a baseline tariff of 15%. Trump has been aiming for similar trade shakeups globally, having already clinched agreements with the UK, Japan, Indonesia and Vietnam, though his administration has fallen short of delivering on its '90 deals in 90 days' pledge. STORY CONTINUES BELOW THIS AD With the clock ticking, both Trump and von der Leyen are hoping Sunday's discussions in Scotland will pave the way for an agreement that could reshape one of the world's most important trade relationships and stave off another economic confrontation.
