Latest news with #MarosSefcovic
Reuters
a day 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
a day 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)
Yahoo
a day ago
- Business
- Yahoo
EU trade chief says he held another call with US's Lutnick
BRUSSELS (Reuters) -European Union Trade Commissioner Maros Sefcovic said on Friday that he had held another call with U.S. Commerce Secretary Howard Lutnick, as the EU and the United States continue efforts to reach a deal on tariffs. "Another call with U.S. Secretary @howardlutnick. Our time and effort fully invested, as delivering forward-looking solutions remains a top EU priority. Staying in permanent contact," wrote Sefcovic on X. The EU wants to see an end to 25% tariffs on steel and cars and for Trump to drop his so-called "reciprocal" tariff, which was provisionally set at 20% for the EU but is being held at 10% during a 90-day pause until July. Sefcovic said earlier this week in Dubai that the European Commission was in talks with Washington on possible cooperation in sectors such as aerospace, steel, semiconductors and critical minerals.
Al Arabiya
a day 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.'
United News of India
3 days ago
- Business
- United News of India
EU, UAE launch free trade talks amid US tariff pressure
Brussels, May 28 (UNI) The European Union (EU) and the United Arab Emirates (UAE) have formally launched negotiations for a bilateral Free Trade Agreement (FTA), marking a potential breakthrough towards the EU's first comprehensive trade deal in the Gulf region, said the European Commission on Wednesday. This initiative also aims to expand further the EU's global trade network, which currently comprises 44 agreements with 76 countries, said the Commission. According to a press release of the Commission, Commissioner for Trade and Economic Security Maros Sefcovic and UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi met in Dubai to reaffirm their shared vision for the agreement and agree on a roadmap, with substantive work expected to begin as early as June. The first meetings of negotiating teams will focus on reducing tariffs on goods and facilitating services, digital trade and investment flows. Talks will also explore ways to boost trade in strategic sectors, such as renewable energy, green hydrogen and critical raw materials. Sefcovic emphasized that a bilateral FTA would unlock "tremendous business opportunities" for both European and Emirati enterprises, while also bolstering the EU's regional engagement with Gulf Cooperation Council (GCC) member states. European Commission President Ursula von der Leyen hailed the launch of the talks as a "significant milestone," noting that the agreement would deepen EU-Gulf ties, create new opportunities for European businesses, and strengthen cooperation in key areas such as renewable energy and digital technologies. To address the uncertainty of US trade policy, the EU is strengthening cooperation with other economies to promote trade diversification and reduce its reliance on the United States. Last Friday, US President Donald Trump announced that he is "recommending a straight 50 percent Tariff on the EU, starting on June 1, 2025." But after a phone call with von der Leyen on Sunday, he agreed to postpone the planned tariff increase until July 9. On Tuesday, Trump welcomed the EU's decision to proceed with negotiations, calling it a positive step, but he again warned that he would enforce trade measures if a deal is not reached. UNI XINHUA AKT BM
