US EditionEU, South Korea seek US trade deals to ease tariff pain
BRUSSELS, BELGIUM, JUL 14 – The EU and South Korea aim to negotiate with the US to prevent or reduce tariffs that could disrupt $1.96 trillion in EU-US trade, with talks ongoing ahead of the August 1 deadline.
- Officials from the EU and South Korea are negotiating trade agreements with the United States to prevent the impact of substantial tariffs set to begin on August 1.
- This push follows U.S. President Donald Trump's threat to impose 30% tariffs on EU goods if no agreement is reached by August 1, disrupting months of negotiation.
- The EU has delayed retaliatory tariffs on $25 billion of U.S. exports and proposed new countermeasures targeting $84 billion in response, while leaders call for unity and steady negotiation.
- Commissioner Maros Sefcovic expressed strong confidence that reaching an agreement would be preferable to the uncertainty and strain expected if no deal is made by August 1st, highlighting the importance of ongoing negotiations.
- If tariffs proceed, trade flows between the EU and U.S. could sharply decline, forcing the bloc to prepare proportionate countermeasures and continue seeking a deal before the deadline.
48 Articles
48 Articles
(Washington = Yonhap News) Correspondent Park Sung-min = US President Donald Trump recently sent a 'tariff letter' to major trading partners such as Korea, Japan, and the European Union (EU)...
In the tariff conflict with the USA, the European Union has prepared countermeasures, with a total of EUR 72 billion worth of imports from the United States planned.
The European Commission today presented to European Union (EU) member states a list of possible measures worth 72 billion euros, in the event that the US imposes 30 percent tariffs on its imports from the EU.
EU could target US$84 billions of US goods if tariff talks fail
BRUSSELS: The European Commission on Monday (Jul 14) said it was putting forward a new list of US goods worth €72 billion (US$84 billion) that could be targeted by EU levies if tariff talks with Washington fail. The bloc's trade chief, Commissioner Maros Sefcovic, announced the proposal, "accounting
In the customs dispute with US President Trump, the EU is preparing further counter-tariffs on imports from the US. They have a volume of 72 billion euros and are expected to enter into force if the negotiations with Washington fail.
Donald Trump threatened the EU with a customs surcharge of 30%, which is due to enter into force on 1 August. "We are negotiating first, but we are preparing at the same time," the European Trade Commissioner justified, informing the Member States of this list.
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