Ursula von der Leyen, President of the European Commission, emphasized the EU's commitment to a fair trade agreement with the United States, proposing an extension until July 9 to facilitate meaningful negotiations amidst rising tensions over tariffs.
EU Seeks Extension until July 9 for Trade Negotiations with US
EU Seeks Extension until July 9 for Trade Negotiations with US
EU President Ursula von der Leyen expresses readiness for a swift trade deal but requests more time for negotiations with the United States.
The European Union's chief, Ursula von der Leyen, stated that she is prepared to move "swiftly" towards a trade agreement with the United States. However, she clarified that the bloc needs additional time, specifically until July 9, to finalize a promising deal. This announcement came on the heels of a productive phone conversation with US President Donald Trump, who had recently voiced dissatisfaction with the negotiation pace and threatened a substantial increase in tariffs.
Previously, Trump had announced a 20% tariff on most imports from the EU, which he later decreed would be temporarily reduced to 10% until July 8 to allow for ongoing discussions. During a press briefing, Trump indicated plans to escalate tariffs to 50% by June 1 if negotiations did not progress positively.
Reaffirming the EU's commitment to securing a beneficial agreement, Maroš Šefčovič, the bloc's trade chief, echoed von der Leyen's sentiment, stating that the EU is fully engaged and dedicated to achieving a deal that accommodates both sides. He underscored the need for negotiations to be governed by mutual respect rather than threats.
Trump's ongoing criticism of what he perceives as an unequal trading relationship with the EU has been a point of contention. The EU, which ranks as one of Washington's largest trading partners, exported over $600 billion in goods to the US in the previous year while importing $370 billion, according to US government figures. Major concerns identified by Trump include tariffs on cars and agricultural products. Although certain tariffs were temporarily suspended to foster negotiations, a 25% levy on EU steel and aluminum remains in effect.
European leaders are urging for diplomatic solutions to these escalating tensions. Nations such as France and Germany have cautioned that imposing tariffs could have detrimental impacts on both economies. The EU itself has considered imposing its own tariffs, previously proposing a 25% levy on $20 billion worth of US goods. While this measure was put on hold, consultations for additional measures against US imports worth approximately $95 billion are currently underway. As negotiations unfold, the EU emphasizes the importance of maintaining respect in trade relations to avoid further unnecessary escalation.
Previously, Trump had announced a 20% tariff on most imports from the EU, which he later decreed would be temporarily reduced to 10% until July 8 to allow for ongoing discussions. During a press briefing, Trump indicated plans to escalate tariffs to 50% by June 1 if negotiations did not progress positively.
Reaffirming the EU's commitment to securing a beneficial agreement, Maroš Šefčovič, the bloc's trade chief, echoed von der Leyen's sentiment, stating that the EU is fully engaged and dedicated to achieving a deal that accommodates both sides. He underscored the need for negotiations to be governed by mutual respect rather than threats.
Trump's ongoing criticism of what he perceives as an unequal trading relationship with the EU has been a point of contention. The EU, which ranks as one of Washington's largest trading partners, exported over $600 billion in goods to the US in the previous year while importing $370 billion, according to US government figures. Major concerns identified by Trump include tariffs on cars and agricultural products. Although certain tariffs were temporarily suspended to foster negotiations, a 25% levy on EU steel and aluminum remains in effect.
European leaders are urging for diplomatic solutions to these escalating tensions. Nations such as France and Germany have cautioned that imposing tariffs could have detrimental impacts on both economies. The EU itself has considered imposing its own tariffs, previously proposing a 25% levy on $20 billion worth of US goods. While this measure was put on hold, consultations for additional measures against US imports worth approximately $95 billion are currently underway. As negotiations unfold, the EU emphasizes the importance of maintaining respect in trade relations to avoid further unnecessary escalation.
