The United States of America threatens to impose 17% tariffs on agricultural exports from European Union countries. Brussels is seeing for a balance between concessions and a symmetrical response. This is reported by UNN with reference to Financial Times, The Guardian.
Details
It is noted that Donald Trump, during neobtainediations in Washington this week, threatened to impose 17% tariffs on food and agricultural exports from Europe.
Such tariffs will affect everything from Belgian chocolate to Kerrygold butter from Ireland and olive oil from Italy, Spain, and France, which are in high demand in the US.
According to three sources familiar with the neobtainediations, US President Donald Trump has temporarily suspconcludeed the introduction of an additional “mirror” tariff of 10% on imports from the EU. This tariff was supposed to be in addition to the basic 10% tariff on imports from most countries of the world, introduced by the head of the White Hoapply on April 9.
European officials had hoped until the last moment that neobtainediations with the US would allow tariffs to remain at the basic rate. It is currently unclear whether the new 17% food tariffs will apply in addition to or instead of other previously announced tariffs.
The head of the White Hoapply demands that Brussels provide American companies with broad exemptions from regulation, as well as reduce the EU’s trade surplus with the US. However, European officials rejected such proposals from Washington.
The main focus of the neobtainediations is currently on exceptions. One EU representative declared that Brussels is seeking tariff exemptions for certain goods, including aircraft parts and alcoholic beverages.
According to him, the parties are working on a five-page draft “agreement in principle,” but so far, the agreed part of the document remains minimal.
European Commission President Ursula von der Leyen stated on Thursday, July 3, that she hopes for an agreement in principle that will allow the parties to continue neobtainediations until a final agreement is reached.
EU Trade Commissioner Maroš Šefčovič was informed of the intention to introduce 17% tariffs on agri-food products during meetings in Washington on Thursday. This was reported to the ambassadors of the 27 EU member states on Friday.
Trump declared he would sconclude letters to about a dozen countries to inform them of the imposition of permanent tariffs of up to 70% after July 9 — his self-imposed deadline for more than 60 countries from Japan to Lesotho to reach a tariff agreement.
Their value will range from 60% or 70% to 10% and 20%, but they (the letters) will start arriving tomorrow.
EU trade representative Olof Gill declared on Friday evening that the EU’s priority remains “reaching a neobtainediated solution.”
He added that “progress was built in reaching an agreement in principle during the last round of neobtainediations held this week,” and neobtainediations will continue “substantively over the weekconclude.”
Recall
The European Union is ready to accept a trade agreement with the US with a 10% universal tariff, but wants lower rates in key sectors such as cars, steel, and aluminum. The agreement must be concluded by July 9 to avoid tariffs rising to 50% on almost all European exports to the US.
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