Live EU ‘optimistic' about Trump trade deal

Telegraph

2 days ago

The European Union is optimistic about striking a trade deal with the US despite Donald Trump's threat to impose 50pc tariffs on the bloc.
Maroš Šefčovič, the European Union's trade commissioner, said he was an 'eternal optimist' when asked about trade negotiations with the US.
Speaking at the Brussels Economic Security Forum on Thursday, Mr Šefčovič said the bloc was 'absolutely convinced' that a deal between the two powers would be in the best interests of both the US and EU.
He said: 'Our global chain especially [is] so intertwined that any obstacle in the middle of the Atlantic would simply make [industries] less competitive and more vulnerable from the perspective of economic security.'
He said the discussions between the EU and US were 'diplomatic, political, but also very technical'.
'I am an eternal optimist, and I think we've been having our ups and downs… And therefore I think that here [we should] focus on the results, to be patient and to simply have a strategy.
'In the end, we are absolutely convinced that two of the biggest economies, representing 30pc of the global trade… [it's] much better if you can find solutions.'
The US and EU have been locked in trade negotiations for months, with Trump complaining about the speed at which Brussels has been moving. He threatened to hit the bloc with 50pc tariffs last month unless talks were accelerated.
While Mr Trump has delayed the imposition of those blanket tariffs on the EU, he this week doubled tariffs on global steel and aluminium imports to the US from 25pc to 50pc, although he granted an exception to the UK.
Mr Šefčovič said the EU wanted to 'clean the slate, clear the table, and to make sure that we could move forward', noting that discussions had taken place over industries such as semiconductors, steel and lumber.