US EditionEU trade negotiator says calls with US officials were ‘good’ after Trump extends tariff deadline
- Senior members of the European Union's executive branch are actively seeking an agreement with the Trump government to prevent the implementation of a 50% tariff on imports, which was originally scheduled for June 1 but has been postponed until July 9, 2025.
- The tariff threat arises from longstanding U.S. Complaints about Europe's trade deficit of 157 billion euros in goods and contentious issues such as value-added taxes and EU sanitary rules that the U.S. Refuses to accept.
- The EU has proposed a "zero for zero" deal removing tariffs on both sides' industrial goods, including autos, while also preparing legislation to reduce imports linked to Russian gas as part of a strategic shift after Russia’s invasion of Ukraine.
- Analysts from Oxford Economics, Oliver Rakau and Nicola Nobile, indicate that implementing 50% tariffs could shrink the Eurozone’s economy by as much as 1% and lead to a decrease in business investment exceeding 6%. Additionally, Bruce Stokes noted that negotiators must develop a strategy to try to appease Trump.
- The EU remains unwilling to change its regulations, creating persistent uncertainty around U.S. Policy that economic experts say paralyzes business and characterizes the U.S. As an unreliable trading partner acting on whim rather than rule of law.
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Dispatch from London: Engaging Trump without alienating the rest
The GeoEconomics team traveled across the pond for a series of meetings and events to determine if the recent US-UK trade deal could be a template for other countries seeking accords with the United States.
·Washington, United States
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Total News Sources448
Leaning Left57Leaning Right55Center120Last UpdatedBias Distribution52% Center
Bias Distribution
- 52% of the sources are Center
52% Center
L 25%
C 52%
R 24%
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