Washington (AFP) – US President Donald Trump said Tuesday that the European Union had yet to offer a “fair deal” on trade, as Washington negotiates tariff agreements with friends and foes alike. “We’re talking but I don’t feel that they’re offering a fair deal yet,” Trump said of the EU, speaking to reporters on board Air Force One before arriving back in the United States from a G7 summit in Canada. “We’re either going to make a good deal or they’ll just pay whatever we say they will pay.”
Shortly after taking office, Trump upended the global economic order by accusing the United States’ trading partners of unfair practices and he announced huge global tariffs. Trump imposed a blanket 10 percent tariff on most US trading partners and unveiled higher individual rates on dozens of economies, including India and the European Union — although he swiftly paused the elevated rates. The pause on those higher duties is due to expire on July 9, though the White House has indicated it could extend the deadline for countries that it believes are negotiating in good faith.
The US president also imposed additional sector-specific levies on cars, steel, and aluminum that have hit many US trading partners hard, including the EU. World leaders at the Group of Seven summit in Canada on Monday pushed Trump to back away from his punishing trade war, arguing that it posed a risk to global economic stability. The US president left the G7 talks early, citing the crisis between Iran and Israel, and was back in Washington on Tuesday morning.
Before his departure, Trump and EU Commission Chief Ursula von der Leyen met for a few minutes on the sidelines of the G7 in what the European leader told reporters was a “good and intensive discussion” on trade. “Of course, it’s complex, but we are advancing and that is good,” von der Leyen said after Trump’s criticism of the EU’s position. The EU chief added that negotiations between the US and Europe were ongoing, including on the sidelines of the G7 on Tuesday, and that both sides were working hard to strike an agreement by the July deadline.
US Treasury Secretary Scott Bessent stayed behind after Trump left, spearheading negotiations on trade with the other G7 countries. “From the very beginning, I have been very clear that a negotiated solution is my favorite solution,” she said, though adding that the EU was ready to retaliate with countermeasures if talks broke down.
© 2024 AFP
