Donald Trump, european union
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50-50 chance of reaching trade deal with EU
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The European Union dominates critical pharmaceutical imports into the United States, making the 30% tariffs Trump threatened to go into effect Aug. 1 particularly risky.
The European Union could hit the United States with counter-tariffs on 93 billion euros ($109 billion) worth of U.S. goods if the two sides fail to reach a trade deal by Washington's August 1 deadline for imposing import levies.
European Union commissioner Michael McGrath has said "the world has changed" and that economic terms "we had six months ago are no longer available" amid ongoing discussions on an EU-US tariff deal.
European Union countries have expressed broad support for one round of 30% retaliatory tariffs if the United States does not reach a trade deal with the EU.
The European Union is heading towards a trade deal with Washington that would result in a broad 15% tariff on EU goods imported into the U.S., avoiding a harsher 30% levy slated to be implemented from August 1,
The possibility of a 30% tariff this week “is a game changer,” said Dante Galeazzi, CEO and president of the Texas International Produce
The EU – the United States' biggest trading partner – had been scheduled to impose "countermeasures" starting Monday at midnight in Brussels
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Indonesia rushing to complete trade deals with Europe, Canada as a hedge against looming US tariff
Indonesia speeds up trade deals, including one with the EU, to counter a new 19 per cent US tariff and boost exports such as shoes, palm oil and coffee.
A threatened 30% tariff on European wines would hurt many U.S. companies while hiking prices at home and in restaurants, industry experts warn.
Confident that his right-wing populist policies would help win him favor with Trump’s administration, Orbán said in an interview in April that while tariffs “will be a disadvantage,” his government was negotiating “other economic agreements and issues that will offset them.”
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