EU Trade Chief to Contact U.S. Officials
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A growing number of European Union member states want the bloc to activate its most powerful trade tool against the US should the two sides fail to reach an acceptable agreement by Aug. 1 and Donald Trump carries out his threat of 30% tariffs on the US’s largest trading partner.
The European Union has warned that its trade with the United States could be effectively wiped out if Washington makes good on its threat to slap a 30% tariff on goods imported from the bloc.
20hon MSN
The European Union could target Boeing and whiskey-maker Brown-Forman under its plans for retaliatory tariffs if the bloc can’t reach a trade deal with the U.S.
U.S. President Donald Trump on Tuesday announced a trade deal with Indonesia, the latest pact in a bid to cement better terms with trading partners and reduce a massive trade deficit, even as the European Union readied retaliatory measures should talks between Washington and its top trading partner fail.
EU trade ministers have agreed that U.S. President Donald Trump’s 30% tariffs announced on the European Union are “absolutely unacceptable,” and they are studying a new set of countermeasures to respond to the move.
The EU's retaliatory tariffs on US exports have been delayed again, European Commission President Ursula von der Leyen has announced. The countermeasures, which were due to start on Tuesday, came in response to US President Donald Trump's initial import taxes on steel and aluminium.
European shares nudged higher on Tuesday, driven by automobile stocks, as sentiment improved after U.S. President Donald Trump signalled a readiness to negotiate tariffs with the European Union.
The European Union will delay the implementation of its trade countermeasures against the United States from Monday until early August to allow more time to negotiate a deal.
It comes as US President Donald Trump threatens to impose 30% tariffs on imports from the European Union and Mexico.
European trade ministers are meeting in Brussels following U.S. President Donald Trump’s surprise announcement of 30% tariffs on the European Union.