The European Union and the United States are moving towards a trade agreement which provides for basic customs duties of 15% on European products imported into the American territory, two European diplomatic sources said on Wednesday. EU countries would thus avoid a rate of 30% from August 1.
Officials of the European Commission in charge of carrying out trade negotiations with the United States on behalf of the twenty-seven reported to European emissaries advanced discussions with their American counterparts. The last word on an agreement, however, belongs to Donald Trump.
According to these sources, the main lines of the potential trade agreement establish that the rate of 15% could also apply to the automotive and pharmaceutical sectors, for which it would replace American customs duties with a median rate of less than 5% so far.
It is possible that concessions are obtained by Brussels for several industries, such as aeronautics, boost, or certain agricultural products, which would be exempt from customs rights, the diplomats said.
Have “the lowest possible prices”
However, there is no indication for the time being that Washington is ready to revise the 50% customs taxes imposed on all steel imports in the United States.
On the move on Wednesday evening in Berlin on Wednesday evening to meet with the German Chancellor Friedrich Merz of a range of subjects, Emmanuel Macron reported “permanent exchanges” within the EU to “stimulate, coordinate our response to the price offensive that was launched” by the United States.
“The will that we share is to give stability and have the lowest possible prices,” said the French president before journalists, saying wishing a “fastest and best possible finalization”.
Towards approved retaliatory measures as plan B
Earlier in the day, the European Commission said that its priority was to reach an agreement with the Trump administration in order to avoid the establishment of a floor threshold of 30% customs duties on all European products from August 1, the deadline set by the American president.
>> Review on this subject the report of 7:30 p.m.:
In parallel, the sources reported, the Commission plans to submit Thursday to the voting of the twenty-seven one set of commercial retaliation measures, up to 93 billion euros, which would aim for American products in the event of the absence of agreement. These measures would come into force after August 7.
A representative of the German government said Berlin supported preparations in this sense of Brussels. The vast majority of EU member countries favorable to the taxation of so-called “anti-coercion” measures against the United States if no agreement was reached and that Washington was to take 30% customs duties from European products, diplomatic sources said. The American sector of services would notably be targeted.
reuters/ther
