The European Union and the US will not be able to reach a comprehensive tariff deal by July 9 - the deadline for the new tariffs to come into force, due to serious disagreements, the Euronews television channel reported, citing its sources.
The talks are about the possibility of reaching a fundamental, preliminary agreement in the form of a “political understanding“ on the issues, and the parties will leave more detailed disputes by sector for later. The most realistic outcome, according to a senior EU diplomat, is „an agreement in principle that lays the groundwork for more concrete arrangements“.
The EU has tightened its stance in talks with the US administration, insisting on the immediate removal of all tariffs by July 9. According to EU sources, European Commissioner for Trade Policy and Economic Security Maroš Šefčovič has been instructed to take a tougher stance in talks in Washington this week in a bid to eliminate or significantly reduce US tariffs in the long term.
US President Donald Trump initially said that due to the complexity of trade talks with the EU he planned to impose 50% tariffs on EU imports from June 1. At the same time, he recalled that European companies would not have to pay any tariffs if they produced their products in the US. According to the president, one of the main goals of creating the EU was to gain an advantage over the United States in trade. However, on May 26, Trump announced that he had agreed to postpone the introduction of a 50% tariff on imports from EU countries from June 1 to July 9.