EU is fighting for trade agreements - Trump threatens 50% tariffs!
EU is fighting for trade agreements - Trump threatens 50% tariffs!
Vienna, Österreich - The transatlantic trade relationships are faced with significant upheaval because the EU is determined to advance a trade agreement with the United States. EU trade commissioner Maros Sefcovic recently confirmed the EU's will to such an agreement based on the principle of respect. This declaration came after constructive discussions with US representatives, including US trade minister Howard Lutnick and trade officer Jamieson Greer, who described Sefcovic as "good". These discussions take place in the context of a tense foreign trade situation, especially after US President Donald Trump has announced a deadline extension by July 9 for possible new tariffs in European goods. Sefcovic also emphasized that the EU "in good faith" is working on an agreement and was willing to defend its interests, despite the uncertain political climate.
President Trump has once again focused on the existing tariffs, which include a set of 25 percent on cars, steel and aluminum. These tariffs concern European goods worth around 370 billion euros. Trump recently threatened to increase the general customs rate for imports from the EU to 50 percent. This scenario would mean a dramatic increase in customs, since the current surcharge is already 10 percent. If Trump's plans for the new tariffs come into force as announced at the end of June, the economic effects could increase significantly in both the United States and in Europe. Trump's tariffs could have far -reaching consequences for numerous states, including the EU and the global supply chains could significantly shake, as has been observed since taking office in January 2021.
economic consequences and EU reactions
The announced customs measures not only make European industry, but could also have significant influence on large companies. Apple estimates possible additional costs in the current quarter alone due to the tariffs to $ 900 million. After Trump has made these customs claims public, the share prices have fallen in both the USA and Europe, which reflects uncertainty about the future trade situation.
In the course of these developments, the EU has already prepared counter-duties for US products worth almost 100 billion euros if the negotiation fails. These measures aim to protect European companies and consumers from the effects of increased US tariffs and to strengthen the EU position in upcoming negotiations. Leading EU MPs have spoken out to further expand transatlantic cooperation in order to cope with common challenges and to stabilize the trade relationships. The Polish Minister of European Affairs, Adam Szłapka, emphasized the advantages of open and fair international trade. In summary, it can be said that the EU is determined to capture the United States despite the current challenges of a trade agreement. The political discussions and the preparation for possible trade measures run in parallel to find a constructive solution. This topic remains of central importance for future economic cooperation between the two continents, since a potential trade agreement would be of great importance for both the European and American markets. For more information on developments in transatlantic relationships, read more at vienna.at href = "https://de.finance.yahoo.com/nachrichten/z%C3%B6LLE-EU-WITT-RESPECK-023937626.html"> yahoo finance and DetailsOrt Vienna, Österreich Quellen