 "Von der Leyen hopes for EU-US trade deal but warns of challenges amid Trump tariffs")
The European Commission President, Ursula von der Leyen, said that the regional body is ready for a trade deal with US President Donald Trump. However, she warned that the body should be prepared if a deal falters. Von der Leyen maintained that she was analysing the latest US negotiating document, which she received on Thursday.
“Our message today is clear, we are ready for a deal,” she told reporters after briefing EU leaders at a summit in Brussels. “At the same time, we are preparing for the possibility that no satisfactory agreement is reached … and we will defend the European interest as needed. In short, all options remain on the table," the EU Commission President said in a statement.
It is pertinent to note that Von Der Leyen leads the commission, responsible for trade on behalf of the EU’s 27 member states. Trump has threatened to impose 50 per cent tariffs on all EU goods from 9 July unless the two sides reach a deal. It is pertinent to note that most EU goods already face 10 per cent tariffs in the US.
Meanwhile, the Trump administration also imposed levies of 25 per cent on cars and car parts and 50 per cent on steel and aluminium. Amid the looming Trump tariffs, Von der Leyen also floated a “beginning of redesigning” the World Trade Organisation (WTO).
She also noted that the Asia Pacific CPTPP bloc, which also includes the UK, was interested in “structured collaboration” with the EU, which wanted the same. “We can think about this as a beginning of redesigning the WTO … to show the world that free trade with a large number of countries is possible on a rules-based foundation,” she averred.
As the Trump deadline nears, different countries and the EU are taking different initiatives to save themselves from the tariffs. It’ll be interesting to see if an EU-US trade agreement will be on the cards.
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