EU suggests to Trump zero-tariff agreement
(MENAFN)
European Commission President Ursula von der Leyen announced that the EU is ready to negotiate a new tariff agreement with the US, offering a "zero-for-zero" deal for industrial goods. This offer comes after US President Donald Trump imposed a 20% blanket tariff on the bloc, which will take effect on Wednesday. Von der Leyen emphasized that Europe is always open to a fair deal, and the EU prefers negotiations over escalating trade conflicts.
European Commission President Ursula von der Leyen announced that the EU is ready to negotiate a new tariff agreement with the US, offering a "zero-for-zero" deal for industrial goods. This offer comes after US President Donald Trump imposed a 20% blanket tariff on the bloc, which will take effect on Wednesday. Von der Leyen emphasized that Europe is always open to a fair deal, and the EU prefers negotiations over escalating trade conflicts.
The offer had been made weeks earlier but was revealed only after a meeting of EU trade ministers in Luxembourg. Reuters reported that the EU is prioritizing negotiations with the US, though they have prepared countermeasures in case the talks fail. Von der Leyen underscored the EU's readiness to defend its interests, particularly against potential negative effects from trade diversion.
This comes after the Trump administration imposed a 25% tariff on EU steel and aluminum, citing unfair trade practices by other nations. Trump also introduced tariffs on imports from over 200 countries last week, arguing that these measures are benefiting the US economy. However, Trump later stated that the EU's offer wasn’t enough, criticizing Brussels for imposing regulations that he claims hinder US exports.
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