Latest news with #EUUSRelations
Reuters
2 days ago
- Business
- Reuters
EU gains leverage in trade talks as US court casts doubt on tariffs, EU officials say
BRUSSELS, May 30 (Reuters) - The European Union has gained leverage in trade talks with the United States after a U.S. court cast doubt on the legality of Washington's "reciprocal" tariffs, EU officials said on Friday. The European Commission said trade talks between Brussels and Washington would continue, with Europe sticking to its offer of mutual zero tariffs on industrial goods. "There's no change in our approach, we proceed as planned with both technical and political meetings next week," a Commission spokesperson said. A U.S. federal appeals court temporarily reinstated President Donald Trump's tariffs on Thursday, a day after a U.S. trade court ruled that Trump had exceeded his authority in imposing the duties and ordered an immediate block on them. "The uncertainty as to the legality of the 'reciprocal' tariffs certainly gives us extra leverage," one EU official close to the talks said. "The talks will continue, as formally we still look for zero-for-zero tariffs," the official said. The EU was also willing to discuss some non-trade barriers with the U.S., officials said, but would not touch the EU's taxation system -- such as the value added tax or digital tax -- or food safety standards. The Commission, which conducts all trade negotiations on behalf of the 27-nation bloc, would not comment on the rulings because they were internal U.S. procedures. EU Trade Commissioner Maros Sefcovic in a post on the X social media platform said he held a phone call with U.S. Commerce Secretary Howard Lutnick on Friday. "Our time and effort fully invested, as delivering forward-looking solutions remains a top EU priority. Staying in permanent contact," Sefcovic said on X. More trade talks between the U.S. and the EU are scheduled for next week, on the sidelines of the OECD Ministerial Council Meeting in Paris on June 3-4. EU officials said the U.S. courts' rulings validated the EU view that the sweeping "reciprocal" tariffs, imposed on all goods from the EU and many other countries around the world on April 2, were unjustified. The officials also said that while U.S. courts did not question Washington's 25% tariffs imposed on European steel, aluminium and cars, the rulings could also play a role in the EU's efforts to get those tariffs lowered or removed. They also said the uncertainty created by the court rulings and the Trump administration's tariff policy also had a positive aspect for Europe, which was seen by markets as an oasis of stability in comparison. "This is the watchword: uncertainty. It is impossible to know what the status of the tariffs will be next week, not to mention next month!" the EU official said. "If you want sane, stable, even boring, rules-based order and predictable business environment, Europe is the place for you!" the official said.
Yahoo
2 days ago
- Business
- Yahoo
EU gains leverage in trade talks as US court casts doubt on tariffs, EU officials say
By Jan Strupczewski BRUSSELS (Reuters) - The European Union has gained leverage in trade talks with the United States after a U.S. court cast doubt on the legality of Washington's "reciprocal" tariffs, EU officials said on Friday. The European Commission said trade talks between Brussels and Washington would continue, with Europe sticking to its offer of mutual zero tariffs on industrial goods. "There's no change in our approach, we proceed as planned with both technical and political meetings next week," a Commission spokesperson said. A U.S. federal appeals court temporarily reinstated President Donald Trump's tariffs on Thursday, a day after a U.S. trade court ruled that Trump had exceeded his authority in imposing the duties and ordered an immediate block on them. "The uncertainty as to the legality of the 'reciprocal' tariffs certainly gives us extra leverage," one EU official close to the talks said. "The talks will continue, as formally we still look for zero-for-zero tariffs," the official said. The EU was also willing to discuss some non-trade barriers with the U.S., officials said, but would not touch the EU's taxation system -- such as the value added tax or digital tax -- or food safety standards. The Commission, which conducts all trade negotiations on behalf of the 27-nation bloc, would not comment on the rulings because they were internal U.S. procedures. EU Trade Commissioner Maros Sefcovic in a post on the X social media platform said he held a phone call with U.S. Commerce Secretary Howard Lutnick on Friday. "Our time and effort fully invested, as delivering forward-looking solutions remains a top EU priority. Staying in permanent contact," Sefcovic said on X. More trade talks between the U.S. and the EU are scheduled for next week, on the sidelines of the OECD Ministerial Council Meeting in Paris on June 3-4. EU officials said the U.S. courts' rulings validated the EU view that the sweeping "reciprocal" tariffs, imposed on all goods from the EU and many other countries around the world on April 2, were unjustified. The officials also said that while U.S. courts did not question Washington's 25% tariffs imposed on European steel, aluminium and cars, the rulings could also play a role in the EU's efforts to get those tariffs lowered or removed. They also said the uncertainty created by the court rulings and the Trump administration's tariff policy also had a positive aspect for Europe, which was seen by markets as an oasis of stability in comparison. "This is the watchword: uncertainty. It is impossible to know what the status of the tariffs will be next week, not to mention next month!" the EU official said. "If you want sane, stable, even boring, rules-based order and predictable business environment, Europe is the place for you!" the official said. (Additional reporting by Julia Payne; Reporting by Jan Strupczewski. Editing by Jane Merriman)
Al Arabiya
2 days ago
- Business
- Al Arabiya
EU says ‘fully invested' in Trump trade talks after US court ruling
The EU is 'fully invested' in reaching a deal with the United States to avoid sweeping tariffs, the bloc's trade chief said Friday, after US judges ruled the controversial measures were unconstitutional. 'Our time and effort fully invested, as delivering forward-looking solutions remains a top EU priority. Staying in permanent contact,' EU trade commissioner Maros Sefcovic said on X after a call Thursday with US Commerce Secretary Howard Lutnick. Sefcovic did not comment on the court developments directly. On Wednesday, the US Court of International Trade barred most of the tariffs announced since President Donald Trump took office. However, an appeals court the following day preserved his sweeping import duties on China and other trading partners. The short-term relief will now allow the appeals process to proceed. Sefcovic has previously said he had calls with his US trade counterparts on Friday, Saturday, and Monday, as the two sides intensified talks following last week's tensions. US President Donald Trump had threatened last Friday—then postponed—to hit EU goods with major tariffs, voicing frustration that negotiations with the EU were 'going nowhere.'
The Independent
3 days ago
- Business
- The Independent
‘Calm and measured dialogue' required after Trump tariffs blocked, says Tanaiste
Ireland's deputy premier has called for calm dialogue on trade after a US court blocked Donald Trump from imposing sweeping tariffs. The ruling from the New York-based Court of International Trade came after several lawsuits arguing the US president has exceeded his authority, left American trade policy dependent on his whims and unleashed economic chaos. The Trump administration is expected to appeal. Tariffs must typically be approved by the US Congress, but Mr Trump says he has the power to act because the country's trade deficits amount to a national emergency. Simon Harris, who is Ireland's deputy premier and foreign affairs minister, said 'calm and measured dialogue' represents the 'best way forward' to resolving trade differences between the EU and the US. 'We note the ruling of the US Court of International Trade in relation to tariffs and also the fact that this ruling is being appealed,' the Tanaiste said. 'I want to stress the position once again today that what is required now is for both sides, the EU and the US, to engage in calm and measured dialogue, and to do so in good faith. 'The continuing uncertainty over tariffs is the source of serious concern for businesses, here in Ireland but also across the EU and the US. 'Businesses that are concerned about their cost base, their workers, and their plans to invest. 'We will continue to monitor the implications of the court decision in the US while keeping our main focus on the negotiations at hand.' It comes after Mr Trump said he will pause his threatened 50% tariffs on the EU until July 9, following a 'very nice call' with European Commission president Ursula von der Leyen. In April, Mr Trump announced a 20% tariff on EU goods being sold into the US. He later reduced that to 10% until July 9 to allow for time for talks with Brussels on a potential agreement. On Friday, the president claimed the talks were 'going nowhere' and said he was recommending the 50% tariff rate comes into effect on June 1. He rowed back on the decision on Monday, claiming Ms von der Leyen called him asking for an extension to the date. Irish premier Micheal Martin said earlier this week that tariffs are 'not good for our economy'. He added: 'It's absolutely important that we can get a realistic and reasonable deal between Europe and the United States to help consumers, to help citizens across the world.'
Yahoo
3 days ago
- Business
- Yahoo
‘Calm and measured dialogue' required after Trump tariffs blocked, says Tanaiste
Ireland's deputy premier has called for calm dialogue on trade after a US court blocked Donald Trump from imposing sweeping tariffs. The ruling from the New York-based Court of International Trade came after several lawsuits arguing the US president has exceeded his authority, left American trade policy dependent on his whims and unleashed economic chaos. The Trump administration is expected to appeal. Tariffs must typically be approved by the US Congress, but Mr Trump says he has the power to act because the country's trade deficits amount to a national emergency. Simon Harris, who is Ireland's deputy premier and foreign affairs minister, said 'calm and measured dialogue' represents the 'best way forward' to resolving trade differences between the EU and the US. 'We note the ruling of the US Court of International Trade in relation to tariffs and also the fact that this ruling is being appealed,' the Tanaiste said. 'I want to stress the position once again today that what is required now is for both sides, the EU and the US, to engage in calm and measured dialogue, and to do so in good faith. 'The continuing uncertainty over tariffs is the source of serious concern for businesses, here in Ireland but also across the EU and the US. 'Businesses that are concerned about their cost base, their workers, and their plans to invest. 'We will continue to monitor the implications of the court decision in the US while keeping our main focus on the negotiations at hand.' It comes after Mr Trump said he will pause his threatened 50% tariffs on the EU until July 9, following a 'very nice call' with European Commission president Ursula von der Leyen. In April, Mr Trump announced a 20% tariff on EU goods being sold into the US. He later reduced that to 10% until July 9 to allow for time for talks with Brussels on a potential agreement. On Friday, the president claimed the talks were 'going nowhere' and said he was recommending the 50% tariff rate comes into effect on June 1. He rowed back on the decision on Monday, claiming Ms von der Leyen called him asking for an extension to the date. Irish premier Micheal Martin said earlier this week that tariffs are 'not good for our economy'. He added: 'It's absolutely important that we can get a realistic and reasonable deal between Europe and the United States to help consumers, to help citizens across the world.'
