US EditionEU Seeks Trade Deal with Trump, Others Face New Tariff Notices
UNITED STATES, JUL 9 – U.S. tariffs remain high despite nearing trade deal with the EU, with tariff revenues expected to reach $300 billion this year, officials said.
- On Wednesday, Trump issued final tariff notices to seven partners as EU negotiations aim for a July 9 deal, with tariffs starting August 1.
- The Trump administration needs tariff revenues to close the budget gap, making European tariffs crucial for achieving fiscal goals.
- Yale Budget Lab found the effective U.S. tariff rate increased to 17.6%, the highest in nine decades, with a 50% levy on imported copper and upcoming duties on semiconductors and pharmaceuticals.
- The European Parliament's trade committee head states the EU struggles to secure immediate tariff relief and no-new-measures pledge, risking increased production shifts to the U.S.
- Both sides aim to finalize a trade deal by July 21, with high tariffs on steel, autos, and general goods still looming if no agreement is reached.
22 Articles
22 Articles
The European Union hopes to reach a trade agreement with the United States “in the next few days”, but also assumes that it will not include its central proposal that was the generalisation of the zero tariff. The agreement should be reached before August 1, when the tariffs that US President Donald Trump threatens to impose on European products will supposedly come into force. Negotiations are being very difficult taking into account the essent…
Trump issues new tariff notices as E.U. trade deal nears | Honolulu Star-Advertiser
WASHINGTON/BRUSSELS >> President Donald Trump issued final tariff notices to seven minor trading partners today as his administration inched closer to a deal with its biggest trading partner, the European Union.
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