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Donald Trump has agreed to delay his menace of fifty per cent tariffs on the EU to increase commerce negotiations till July 9, after a dialog on Sunday with European Fee president Ursula von der Leyen.
“She mentioned she needs to get all the way down to severe negotiation,” Trump instructed reporters. “We had a really good name.”
“She mentioned we are going to quickly get collectively and see if we are able to work one thing out.”
Von der Leyen mentioned in a press release that the EU is able to advance commerce talks with the US “swiftly and decisively” however wanted Trump to return to his authentic 90-day negotiation interval.
The dialogue, within the first publicly disclosed name between the 2 leaders since Trump’s inauguration, got here two days after the US president mentioned he would impose 50 per cent tariffs on EU imports from June 1 in response to what he mentioned have been unsatisfactory negotiations with Brussels.
That represented a giant escalation within the simmering transatlantic commerce battle, and startled European negotiators. Trump had paused his preliminary imposition of 20 per cent tariffs towards the EU in April to start a 90-day negotiation that was set to finish on July 9.
“Europe is able to advance talks swiftly and decisively. To achieve an excellent deal, we would want the time till July 9,” von der Leyen mentioned in a post on social media, after what she described as a “good name” with Trump. Her workplace confirmed she had initiated the contact.
The assertion advised a potential shift within the fee’s stance in direction of discovering a compromise. On Friday, von der Leyen’s chief commerce negotiator Maroš Šefčovič known as for “mutual respect, not threats” and mentioned Brussels would “defend our pursuits” in response to Trump’s escalation.
After Trump had threatened to impose the 50 per cent tariffs, in a while Friday Treasury secretary Scott Bessent had mentioned on Fox Information: “I might hope that this may mild a hearth beneath the EU.”
A White Home official mentioned they have been pissed off the EU had not engaged like different international locations. “We simply haven’t seen something materials come out of the EU,” mentioned a White Home official.
The Treasury and commerce departments didn’t instantly reply to requests for remark.
Stephen Moore, an out of doors financial adviser to Trump, mentioned that von der Leyen’s assertion is “a promising signal” that the EU is “prepared to barter”.
“It will not be as quickly as Trump wish to see, however I feel it is a peace providing,” Moore instructed the FT.
Officers on each side have acknowledged the shortage of progress within the EU-US talks, as negotiators stick with long-held positions. Trump has attacked the EU for what he alleges are unfair commerce practices, whereas EU officers say the US refuses to keep in mind its enormous companies surplus with the bloc.
“I’m not on the lookout for a deal,” Trump instructed reporters within the White Home on Friday. “We’ve set the deal — it’s at 50 per cent.”
In case Trump follows by on his menace, the EU has ready a €21bn package deal of tariffs on US objects resembling maize, wheat, bikes and clothes, and can be discussing an extra checklist price €95bn of different targets together with Boeing plane, vehicles and bourbon whiskey.
