Latest news with #MarošŠefčovič
Euractiv
2 hours ago
- Business
- Euractiv
EU trade chief heads to Washington for a new round of trade talks
A technical team from the European Commission – which leads on trade for the 27-country bloc – had already travelled to Washington this week for more talks with US officials. Euractiv is part of the Trust Project AFP Jul 16, 2025 14:39 2 min. read News Based on facts, either observed and verified directly by the reporter, or reported and verified from knowledgeable sources. The EU's top trade negotiator Maroš Šefčovič is jetting to Washington on Wednesday for talks with his US counterparts as the bloc renews its push to settle the transatlantic tariffs stand-off. "Šefčovič is flying to DC this afternoon, for separate in-person meetings" with US Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer, said European Commission trade spokesman Olof Donald Trump threw months of EU-US talks into disarray over the weekend by threatening a 30 percent levy on European goods from 1 August if the transatlantic allies don't strike a deal. Leading up to Saturday's missive, Brussels thought it was on the cusp of closing a deal with Washington, but EU officials remain hopeful they can reach an agreement by the end of the month. More talks A technical team from the European Commission – which leads on trade for the 27-country bloc – had already travelled to Washington this week for more talks with US officials. The EU has until now sought to tackle trade tensions with the United States through negotiations but has prepared retaliatory tariffs if no deal is made. On Monday, Brussels shared with EU states a list of US goods worth 72 billion euros that could be hit by levies – with several capitals urging the bloc this week to toughen its stance. The 202-page document seen by AFP lists big-ticket items like US-made aircraft, cars, chemicals and electrical equipment alongside various other items, such as live bees, camels, parrots, condoms, and opium. (vib)
Euronews
a day ago
- Business
- Euronews
EU trade ministers discuss €72 billion retaliatory tariffs on US goods
EU Trade Commissioner Maroš Šefčovič presented EU trade ministers gathered in Brussels for an extraordinary meeting on Monday a list of €72 billion worth of US products to be included in a retaliatory tariff drive, as Washington's pressure ramped up over the weekend with the threat of 30% tariffs on EU imports starting on 1 August. 'We must be prepared for all outcomes, including if necessary, well-considered proportionate measures to restore balance in our transatlantic relationship,' Šefčovič said, adding: 'Today the Commission is sharing with the member states the proposal for the second list of goods, accounting of some €72 billion worth of US Imports. They will now have a chance to discuss it.' The list proposed by the Commission, which has been reduced to €72 billion from €95 billion following consultations with EU industries and member states, still needs to be formally adopted by the member states. It targets a wide range of products, including US-made aeroplanes and bourbon. Last Saturday, after weeks of negotiations, US President Donald Trump published on Truth Social a letter sent to the European Commission threatening to impose 30% tariffs on EU imports if no deal is reached by 1 August. Last week, negotiations appeared to have entered the final stretch, with the EU having reluctantly agreed to a baseline tariff of 10% on its imports. Sector-specific exemptions were still being negotiated, with the EU having secured 0% on aircraft and spirits, and some US tariffs just above 10% on agricultural products. 'We were very very close to an agreement in principle,' Danish foreign affairs minister Lars Løkke Rasmussen regretted. The US currently imposes tariffs of 50% on EU steel and aluminium, 25% on cars, and 10% on all EU imports. According to an EU diplomat, EU retaliation could also include export controls on aluminium scrap, which the US needs. But while the EU is flexing its muscles, it continues to prioritise negotiation. 'We remain convinced that our transatlantic relationship deserves a negotiated solution, one that leads to renewed stability and cooperation,' Maroš Šefčovič said before announcing he had a call planned with his US counterparts on Monday late afternoon. On Saturday, European Commission President Ursula von der Leyen announced a delay in the implementation of an initial retaliatory measure targeting €21 billion worth of US products, which had been suspended until Tuesday. According to the same EU diplomat, a meeting of EU ambassadors had originally decided to postpone it until the end of the year, but Trump's new announcements have made these countermeasures more urgent. They have therefore been postponed until 1 August. Anti-coercion instrument Behind the show of unity displayed on Monday by member states, diplomats are however well aware that complications will arise once a deal with the US is on the table. 'Let's be realistic, we will all have different interpretations,' an official from a member state told Euronews, admitting that once a deal is reached some countries will push for strong retaliation while others will want to avoid escalation, depending on which of their strategic sectors is most hit by the US. France continues to advocate a hard line toward the US, eager to put all the tools at the EU's disposal on the table, including the use of the anti-coercion instrument — the 'nuclear option' of EU trade defence, adopted in 2023. 'This pressure, deliberately applied by the US president in recent days and weeks, is straining our negotiating capacity and must lead us to show that Europe is a power,' French Trade Minister Laurent Saint-Martin said on arrival at the Council. 'Europe is a power when it knows how to demonstrate its ability to respond," Saint-Martin added. 'The US has escalation dominance,' a second EU diplomat told Euronews. On Sunday, von der Leyen ruled out use of the anti-coercion instrument for the time being. 'The anti-coercion is created for extraordinary situations,' she said, adding: 'We are not there yet.' The tool would allow the EU to withdraw licences and intellectual property rights from foreign companies, including US tech giants.
Vancouver Sun
2 days ago
- Business
- Vancouver Sun
EU vows 'robust' countermeasures if Trump enacts 'unacceptable' 30% tariffs
BRUSSELS — EU trade ministers agreed Monday that U.S. President Donald Trump's announcement of 30% tariffs on the European Union was 'absolutely unacceptable,' and they are studying a new set of countermeasures to respond to the move. The ministers met Monday in Brussels following Trump's surprise announcement over the weekend of such hefty tariffs, which could have repercussions for governments, companies and consumers on both sides of the Atlantic. The EU is America's biggest business partner and the world's largest trading bloc. Maroš Šefčovič, the EU's trade representative in its talks with the U.S., said after the meeting that it was 'very obvious from the discussions today, the 30% is absolutely unacceptable.' Start your day with a roundup of B.C.-focused news and opinion. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Sunrise will soon be in your inbox. Please try again Interested in more newsletters? Browse here. He said that the commission was sharing proposals with the 27 member countries 'for the second list of goods accounting of some 72 billion euros ($84 billion) worth of U.S imports. They will now have a chance to discuss it. This does not exhaust our toolbox and every instrument remains on the table.' Lars Løkke Rasmussen, foreign minister of Denmark, which recently assumed the presidency of the EU, said the ministers vowed to work together in negotiating a trade deal with Washington or agreeing on countermeasures. 'The EU remains ready to react and that includes robust and proportionate countermeasures if required and there was a strong, feeling in the room of unity,' Rasmussen told reporters after the meeting. The tariffs, also announced for Canada and Mexico, are set to start on Aug. 1 and could make everything from French cheese and Italian leather goods to German electronics and Spanish pharmaceuticals more expensive in the U.S., and destabilize economies from Portugal to Norway. Meanwhile, Brussels decided to suspend retaliatory tariffs on U.S. goods scheduled to take effect Monday in hopes of reaching a trade deal with the Trump administration by the end of the month. The 'countermeasures' by the EU, which negotiates trade deals on behalf of its 27 member countries, will be delayed until Aug. 1. Trump's letter shows 'that we have until the first of August' to negotiate, European Commission President Ursula von der Leyen told reporters in Brussels on Sunday. Maroš Šefčovič, the EU's trade representative in its talks with the U.S., said negotiations would continue Monday. 'I'm absolutely 100% sure that a negotiated solution is much better than the tension which we might have after the 1st of August,' he told reporters in Brussels on Monday. But he added that 'we must be prepared for all outcomes.' 'I cannot imagine walking away without genuine effort. Having said that, the current uncertainty caused by unjustified tariffs cannot persist indefinitely and therefore we must prepare for all outcomes, including, if necessary, well-considered proportionate countermeasures to restore the balance in our transit static relationship.' The letters to the EU and others come in the midst of an on-and-off Trump threat to impose tariffs on countries and right an imbalance in trade. Trump imposed tariffs in April on dozens of countries, before pausing them for 90 days to negotiate individual deals. As the three-month grace period ended this week, he began sending tariff letters to leaders, but again has pushed back the implementation day for what he says will be just a few more weeks. If he moves forward with the tariffs, it could have ramifications for nearly every aspect of the global economy. The American Chamber of Commerce in the European Union, an influential industry group representing major American corporations in Europe, said the tariffs could 'generate damaging ripple effects across all sectors of the EU and U.S. economies' and praised the EU's delay of countermeasures. In the wake of the new tariffs, European leaders largely closed ranks, calling for unity but also a steady hand to not provoke further acrimony. Just last week, Europe was cautiously optimistic. Officials told reporters on Friday they weren't expecting a letter like the one sent Saturday and that a trade deal was to be inked in 'the coming days.' For months, the EU has broadcast that it has strong retaliatory measures ready if talks fail. Reeling from successive rebukes from Washington, Šefčovič said Monday the EU is 'doubling down on efforts to open new markets' and pointed to a new economic agreement with Indonesia as one. The EU top brass will visit Beijing fora summit later this month while courting other Pacific nations like South Korea, Japan, Vietnam, Singapore, the Philippines, and Indonesia, whose prime minister visited Brussels over the weekend to sign a new economic partnership with the EU. It also has mega-deals in the works with Mexico and a trading bloc of South American nations known as Mercosur, and Šefčovič will meet with his counterpart from the United Arab Emirates next week. While meeting with Indonesia's president on Sunday, Von der Leyen said that 'when economic uncertainty meets geopolitical volatility, partners like us must come closer together.' 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National Post
2 days ago
- Business
- National Post
EU vows 'robust' countermeasures if Trump enacts 'unacceptable' 30% tariffs
BRUSSELS — EU trade ministers agreed Monday that U.S. President Donald Trump's announcement of 30% tariffs on the European Union was 'absolutely unacceptable,' and they are studying a new set of countermeasures to respond to the move. Article content The ministers met Monday in Brussels following Trump's surprise announcement over the weekend of such hefty tariffs, which could have repercussions for governments, companies and consumers on both sides of the Atlantic. The EU is America's biggest business partner and the world's largest trading bloc. Article content Article content Maroš Šefčovič, the EU's trade representative in its talks with the U.S., said after the meeting that it was 'very obvious from the discussions today, the 30% is absolutely unacceptable.' Article content Article content He said that the commission was sharing proposals with the 27 member countries 'for the second list of goods accounting of some 72 billion euros ($84 billion) worth of U.S imports. They will now have a chance to discuss it. This does not exhaust our toolbox and every instrument remains on the table.' Article content Lars Løkke Rasmussen, foreign minister of Denmark, which recently assumed the presidency of the EU, said the ministers vowed to work together in negotiating a trade deal with Washington or agreeing on countermeasures. 'The EU remains ready to react and that includes robust and proportionate countermeasures if required and there was a strong, feeling in the room of unity,' Rasmussen told reporters after the meeting. Article content The tariffs, also announced for Canada and Mexico, are set to start on Aug. 1 and could make everything from French cheese and Italian leather goods to German electronics and Spanish pharmaceuticals more expensive in the U.S., and destabilize economies from Portugal to Norway. Article content Article content Meanwhile, Brussels decided to suspend retaliatory tariffs on U.S. goods scheduled to take effect Monday in hopes of reaching a trade deal with the Trump administration by the end of the month. Article content The 'countermeasures' by the EU, which negotiates trade deals on behalf of its 27 member countries, will be delayed until Aug. 1. Trump's letter shows 'that we have until the first of August' to negotiate, European Commission President Ursula von der Leyen told reporters in Brussels on Sunday. Article content Maroš Šefčovič, the EU's trade representative in its talks with the U.S., said negotiations would continue Monday. Article content 'I'm absolutely 100% sure that a negotiated solution is much better than the tension which we might have after the 1st of August,' he told reporters in Brussels on Monday. But he added that 'we must be prepared for all outcomes.' Article content 'I cannot imagine walking away without genuine effort. Having said that, the current uncertainty caused by unjustified tariffs cannot persist indefinitely and therefore we must prepare for all outcomes, including, if necessary, well-considered proportionate countermeasures to restore the balance in our transit static relationship.'
The Hill
2 days ago
- Business
- The Hill
EU trade ministers plan countermeasures to Trump's ‘unacceptable' 30% tariffs
BRUSSELS (AP) — EU trade ministers agreed Monday that U.S. President Donald Trump's announcement of 30% tariffs on the European Union was 'absolutely unacceptable,' and they are studying a new set of countermeasures to respond to the move. The ministers met Monday in Brussels following Trump's surprise announcement over the weekend of such hefty tariffs, which could have repercussions for governments, companies and consumers on both sides of the Atlantic. The EU is America's biggest business partner and the world's largest trading bloc. Maroš Šefčovič, the EU's trade representative in its talks with the U.S., said after the meeting that it was 'very obvious from the discussions today, the 30% is absolutely unacceptable.' He said that the commission was sharing proposals with the 27 member countries 'for the second list of goods accounting of some 72 billion euros ($84 billion) worth of U.S imports. They will now have a chance to discuss it. This does not exhaust our toolbox and every instrument remains on the table.' Lars Løkke Rasmussen, foreign minister of Denmark, which recently assumed the presidency of the EU, said the ministers vowed to work together in negotiating a trade deal with Washington or agreeing on countermeasures. 'The EU remains ready to react and that includes robust and proportionate countermeasures if required and there was a strong, feeling in the room of unity,' Rasmussen told reporters after the meeting. The tariffs, also announced for Mexico, are set to start on Aug. 1 and could make everything from French cheese and Italian leather goods to German electronics and Spanish pharmaceuticals more expensive in the U.S., and destabilize economies from Portugal to Norway. Meanwhile, Brussels decided to suspend retaliatory tariffs on U.S. goods scheduled to take effect Monday in hopes of reaching a trade deal with the Trump administration by the end of the month. The 'countermeasures' by the EU, which negotiates trade deals on behalf of its 27 member countries, will be delayed until Aug. 1. Trump's letter shows 'that we have until the first of August' to negotiate, European Commission President Ursula von der Leyen told reporters in Brussels on Sunday. Maroš Šefčovič, the EU's trade representative in its talks with the U.S., said negotiations would continue Monday. 'I'm absolutely 100% sure that a negotiated solution is much better than the tension which we might have after the 1st of August,' he told reporters in Brussels on Monday. But he added that 'we must be prepared for all outcomes.' 'I cannot imagine walking away without genuine effort. Having said that, the current uncertainty caused by unjustified tariffs cannot persist indefinitely and therefore we must prepare for all outcomes, including, if necessary, well-considered proportionate countermeasures to restore the balance in our transit static relationship.' The letters to the EU and Mexico come in the midst of an on-and-off Trump threat to impose tariffs on countries and right an imbalance in trade. Trump imposed tariffs in April on dozens of countries, before pausing them for 90 days to negotiate individual deals. As the three-month grace period ended this week, he began sending tariff letters to leaders, but again has pushed back the implementation day for what he says will be just a few more weeks. If he moves forward with the tariffs, it could have ramifications for nearly every aspect of the global economy. The American Chamber of Commerce in the European Union, an influential industry group representing major American corporations in Europe, said the tariffs could 'generate damaging ripple effects across all sectors of the EU and US economies' and praised the EU's delay of countermeasures. In the wake of the new tariffs, European leaders largely closed ranks, calling for unity but also a steady hand to not provoke further acrimony. Just last week, Europe was cautiously optimistic. Officials told reporters on Friday they weren't expecting a letter like the one sent Saturday and that a trade deal was to be inked in 'the coming days.' For months, the EU has broadcast that it has strong retaliatory measures ready if talks fail. Reeling from successive rebukes from Washington, Šefčovič said Monday the EU is 'doubling down on efforts to open new markets' and pointed to a new economic agreement with Indonesia as one. The EU top brass will visit Beijing fora summit later this month while courting other Pacific nations like South Korea, Japan, Vietnam, Singapore, the Philippines, and Indonesia, whose prime minister visited Brussels over the weekend to sign a new economic partnership with the EU. It also has mega-deals in the works with Mexico and a trading bloc of South American nations known as Mercosur, and Šefčovič will meet with his counterpart from the United Arab Emirates next week. While meeting with Indonesia's president on Sunday, Von der Leyen said that 'when economic uncertainty meets geopolitical volatility, partners like us must come closer together.'
