Brussels proposes solution to Trump
(MENAFN) The European Union is proposing a sharp increase in imports from the United States in a bid to persuade President Donald Trump to lift recently imposed tariffs, the Financial Times reported, citing EU Trade Commissioner Maros Sefcovic.
Trump's wide-ranging "Liberation Day" tariff package targeted over 90 countries, including the 27-member EU bloc. The administration cited persistent trade deficits as justification for raising import duties, with the EU facing a baseline 10% tariff and a 25% tariff on car imports. Although most tariffs were paused for 90 days to allow negotiations, several key duties remain in effect.
Sefcovic told the FT that the EU could quickly address the roughly €50 billion ($56 billion) trade gap through expanded purchases of U.S. liquefied natural gas (LNG), soybeans, and other goods. However, he stressed that the EU would not accept the continuation of the 10% tariff as part of any resolution, warning that it would be "very difficult" to reach a deal acceptable to both member states and the European Parliament.
Earlier in the year, Trump rejected a European offer to mutually eliminate tariffs on industrial goods, arguing it failed to address the underlying trade imbalance. In 2024, U.S.-EU trade totaled nearly $976 billion, with the EU exporting $605.8 billion to the U.S., while importing just $370.2 billion in return.
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