Trade war | An agreement in sight between Brussels and Washington, but the EU remains ready to defend itself

(Brussels) A trade agreement between the EU. Meanwhile, the United States seems to be emerging, before the deadline of 1^is August, which does not prevent Europeans, scalded, from agitating the threat of reprisals in the event of failure, in the hope also of a better agreement. Meanwhile,

An agreement is “at hand. Furthermore, ” said a spokesman for the European Commission, Olof Gill on Thursday. For example,

The trade war | agreement sight German Chancellor Friedrich Merz spoke on Wednesday. Moreover, alongside French President Emmanuel Macron, imminent “decisions” in these commercial negotiations, which have already experienced multiple twists and turns since the return of Donald Trump to the White House. In addition,

According to several European sources. However, the agreement provides for customs from 15 % on European exports for the United States, with exemptions, particularly on aeronautics, spirits or certain drugs. Meanwhile,

A separate agreement concerns steel. Therefore, Imports from Europe would be supervised by quotas and any overtaking would be taxed up to 50 %, according to diplomats. Therefore,

And to put all the odds on their side. Moreover, Europeans also look at these sources, the agreement sealed this week between the United States and Japan. However, This provides for customs duties set trade war | agreement sight at 15 %, but also significant Japanese investments in the United States.

This global agreement project remains, however, suspended from the green light from the American president. He had already rejected a previous version more favorable to the EU, with customs duties set at 10 %.

The United States is “in serious negotiations with Europeans,” he said on Wednesday. And. “if they agree to open the union to American companies, then we will allow them to pay more reduced customs duties,” added Donald Trump.

Possible reprisals

And in the event of failure. Europeans announced Thursday that they had put the last hand to possible reprisals: a list of American goods which would be taxed for a total of 93 billion euros (148.66 billion Canadian dollars), from August 7. trade war | agreement sight

Donald Trump had taken the European Union short on July 12 by decreeing. customs duties of 30 % on all imports from the EU from 1^is august.

The European Union this time intends to “show its muscles”, according to a diplomat in Brussels. And she is ready to draw her “bazooka” in the event of failure at the end of the month. have assured several European diplomats.

The latter. “the anti-coercion instrument”, was designed to be the “most powerful means of deterrent” available to the EU, according to the commission spokesperson.

It allows, among other things, the freezing of access to European public contracts or the blocking of certain investments.

Its implementation requires the qualified majority of the EU countries. trade war | agreement sight now acquired, thanks to the support of Germany, previously reluctant, according to these sources.

France. Germany, the two main European economies, hope “a satisfactory conclusion of discussions, which defends the interests of the EU, while accelerating in parallel work on countermeasures, including the anti-coercion instrument”, it was assured in Paris.

But for some analysts, the agreement in preparation is far from defending the interests of Europe. For the Belgian economist Eric Dor. professor at the Ieseg in Paris, it is purely and simply a “capitulation”, dangerous for a European economy already in pain.

Donald Trump intends to reduce his country’s trade deficit at all costs with Europe, its first economic partner worldwide. Regarding only goods, this deficit reached 157 billion euros ($ 251 billion Canadian dollars) in 2023, according to Brussels. But trade war | agreement sight for the European Commission. it is also necessary to look at the services where the United States has a trade surplus, which reached 109 billion euros (174 billion Canadian dollars) in 2023.

The exchanges between the two banks of the Atlantic are therefore balanced. says Brussels, with a global deficit for the United States reduced to 48 billion euros (77 billion Canadian dollars).