The European Union plans for commercial conversations “fast tracking” amid fighting the tariff
The European Union said it had agreed to accelerate negotiations with the United States to avoid a commercial war, which indicates a more friendly approach a few days after President Donald Trump criticized the bloc for its benefit from the United States and slow talks.
“There is now a new batch of negotiations,” Polo Penho, a UNHCR spokeswoman, told reporters on Monday, a day after the committee chairman Ursula von der Layen. “They agreed to all those who follow commercial negotiations and stay in close contact.”
After the call, Trump extended the deadline for the European Union to strike by 50 % tariffs more than a month to July 9 to allow more negotiations. “We received a very nice call and agreed to move it,” Trump told reporters on Sunday.
The talks have so far had many problems, with no clear way to find a medium ground that would satisfy them alike. The Europeans have complained that it is not clear what the United States wants or even those who talk about the American president, and the United States said that the European Union is not fairly targeting American companies with lawsuits and regulations.
It was expected that the European Union Trade Chairman, Marus Sivkovic, USA, Huard Lottenic, was expected to speak on Monday. The European Union ambassadors were scheduled to hold a meeting at the last minute on Monday to discuss the latest developments with the committee.
The futures for American and European stocks rose with Asian stocks on Monday. The dollar has fluctuated after its low level since December 2023.
Trump’s threat will reach 50 % of the United States’ commodity trade worth $ 321 billion, reducing the gross domestic product of approximately 0.6 % and strengthening prices by more than 0.3 %, according to Bloomberg’s economies.
After the initial exchange of the papers, the United States rejected last week Submit a suggestion By the Committee, which deals with commercial issues on behalf of the 27 European Union member states.
While the European Union said its priority was to find a solution that has been negotiated with the United States, it was preparing for revenge if necessary.
The European Union approved the definitions on 21 billion euros (23.9 billion dollars) of American goods in response to Trump’s metal graphics that can be implemented quickly. They are targeting politically sensitive American countries and include products such as Louisiana soybeans, the home of Parliament Speaker Mike Johnson, as well as agricultural products, poultry and motorcycles.
The mass also prepares an additional list of tariffs on 95 billion euros of American products. These measures, which respond to Trump’s “mutual” paintings and car duties, will target industrial goods including Boeing Company, US -made cars and bourbon.
Some member states urge cold heads with the approaching date of the tariff. German Economy Minister Catherina Reish said that the European Union and the United States need a “calm” before the talks.
“We need to find a common ground. This should be the goal,” said at the Handelsblatt event at Heilbronn on Monday. At the same time, she said, the United States should understand that the customs tariff also hurts them. “There are still six weeks to find a solution,” said Reish.
This story was originally shown on Fortune.com
