EU trade chief hopeful about averting US tariffs after ‘intense’ talks with Trump’s team
The EU is attempting to avert a trade war with the US despite President Trump's criticism of the bloc. EU trade chief Maros Sefcovic held "intense" talks with US officials, including newly confirmed Commerce Secretary Howard Lutnick, focusing heavily on the impending US tariffs on steel and aluminum.
The Trump administration is expected to impose a 25% tariff on foreign steel and aluminum starting March 12th and is considering raising tariffs on American exports to match those imposed by other countries, a policy of "reciprocity." Trade tensions are straining the transatlantic alliance, despite the EU considering the US relationship as the "most integrated economic relationship in the world." While Europe has a goods trade surplus with the US, the US has a surplus in services trade with the EU.
via SCMP Full Text Feed
The EU is attempting to avert a trade war with the US despite President Trump's criticism of the bloc. EU trade chief Maros Sefcovic held "intense" talks with US officials, including newly confirmed Commerce Secretary Howard Lutnick, focusing heavily on the impending US tariffs on steel and aluminum.
The Trump administration is expected to impose a 25% tariff on foreign steel and aluminum starting March 12th and is considering raising tariffs on American exports to match those imposed by other countries, a policy of "reciprocity." Trade tensions are straining the transatlantic alliance, despite the EU considering the US relationship as the "most integrated economic relationship in the world." While Europe has a goods trade surplus with the US, the US has a surplus in services trade with the EU.
via SCMP Full Text Feed
