Latest news with #EUUS
Bloomberg
2 days ago
- Business
- Bloomberg
EU Aims for US Trade Talks to Extend Past Trump's July Deadline
The European Union believes trade negotiations with the US to extend beyond President Donald Trump's July 9 deadline, even as the speed of the talks has increased over the past week. The EU sees reaching an agreement on the principles of a deal by July 9 as a best-case scenario, which would allow further talks to work out the details, according to people familiar with the matter. The US is expected to respond to the latest round of negotiations in the coming days and provide clarity on the next steps.
Bloomberg
26-05-2025
- Business
- Bloomberg
EU Plans to ‘Fast Track' Trade Talks With US Amid Tariff Fight
The European Union said it agreed to accelerate negotiations with the US to avoid a transatlantic trade war, signaling a more amicable approach just days after President Donald Trump criticized the bloc for taking advantage of the US and slow-walking talks. 'There's now a new impetus for the negotiations,' Paula Pinho, a spokeswoman for the European Commission, told reporters on Monday, a day after Commission President Ursula von der Leyen spoke with Trump by phone. 'They agreed both to fast track the trade negotiations and to stay in close contact.'
Yahoo
24-05-2025
- Business
- Yahoo
EU calls for 'respect' after Trump threatens 50% tariffs
The European Union's trade chief said the 27-member bloc is committed to securing a trade deal with the US based on "respect" not "threats". It comes after US President Donald Trump threatened to slap a 50% tariff on all goods sent to the United States from the EU. "The EU's fully engaged, committed to securing a deal that works for both," EU Trade Commissioner Maros Sefcovic said after a call with US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick. "EU-US trade is unmatched & must be guided by mutual respect, not threats. We stand ready to defend our interests." Earlier on Friday, Trump expressed impatience with the pace of ongoing EU-US trade negotiations, saying his plan to raise tariffs on 1 June was set. Posting on his Truth Social platform, Trump said: "Our discussions with them (the EU) are going nowhere," adding that there would be no tariffs for products built or manufactured in the US. "I'm not looking for a deal - we've set the deal," he told reporters later, before immediately adding that a big investment in the US by a European company might make him open to a delay. The EU is one of the Washington's largest trading partners, sending more than $600bn (€528bn; £443bn) in goods last year and buying $370bn worth, US government figures show. Faisal Islam: Trump's tariff plans could spark global economic shock See the Trump tariffs list by country Reacting to Trump's threats, European governments have warned that higher tariffs would be damaging to both sides. "We do not need to go down this road. Negotiations are the best and only sustainable way forward," Ireland's Taoiseach (Prime Minister) Micheál Martin said. "We are maintaining the same line: de-escalation, but we are ready to respond," said French Foreign Minister Laurent Saint-Martin. German Economy Minister Katherina Reiche said that "we must do everything to ensure that the European Commission reaches a negotiated solution with the United States". Dutch Prime Minister Dick Schoof told reporters that he backed the EU's strategy in trade talks and "we have seen before that tariffs can go up and down in talks with the US". Last month, Trump announced a 20% tariff on most EU goods but had halved it to 10% until 8 July to allow time for more negotiations. Trump's complaints about Europe have focused on its uneven trade relationship, as the EU sells more goods to the US than it buys from America. He blames this trade deficit on policies that he says are unfair to American companies, and he has specifically raised concerns about policies related to cars and agricultural products. Trump also warned Apple that he would impose a 25% import tax "at least" on iPhones not manufactured in America, later widening the threat to any smartphone. Shares in the US and EU fell on Friday after the latest threats, with the S&P 500 down about 0.7% and Germany's Dax and France's Cac 40 ending the day down more than 1.5%. Trump reignites tensions with EU tariff threats
