Latest news with #US-EU trade
Yahoo
2 days ago
- Business
- Yahoo
US, EU agree trade deal, EU will see 15% tariff across the board
TURNBERRY, Scotland (Reuters) -U.S. President Donald Trump on Sunday said the United States and the European Union had reached agreement on a trade deal that includes a 15% tariff on EU goods entering the U.S. and significant EU purchases of U.S. energy and military equipment. The deal also calls for $600 billion in investments in the U.S. by the European Union, he told reporters. European Commission President Ursula von der Leyen said the agreement would include 15% tariffs across the board, saying it would help rebalance trade between the two large trading partners. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
2 days ago
- Business
- Reuters
US, EU agree trade deal, EU will see 15% tariff across the board
TURNBERRY, Scotland, July 27 (Reuters) - U.S. President Donald Trump on Sunday said the United States and the European Union had reached agreement on a trade deal that includes a 15% tariff on EU goods entering the U.S. and significant EU purchases of U.S. energy and military equipment. The deal also calls for $600 billion in investments in the U.S. by the European Union, he told reporters. European Commission President Ursula von der Leyen said the agreement would include 15% tariffs across the board, saying it would help rebalance trade between the two large trading partners.
Al Arabiya
7 days ago
- Business
- Al Arabiya
Macron-Merz to hold talks over NATO, EU-US trade row
French President Emmanuel Macron is to meet German Chancellor Friedrich Merz in Berlin on Wednesday to discuss NATO security, the US-EU trade row and other key issues. Macron and Merz, who took power in May, have been at pains to boost the bilateral partnership at the heart of the European Union as US President Donald Trump has rocked transatlantic ties. 'The most important message is: the Franco-German couple is back at work,' the French presidency said ahead of Macron's planned dinner with Merz. Paris and Berlin, along with London and Warsaw, have pushed efforts to support Ukraine against Russia and build up the defense capabilities of NATO's European member states. But while Paris has signaled a willingness to send peacekeeping troops to monitor a possible Ukraine ceasefire, Berlin has so far voiced no plans to contribute. Merz and Macron were also expected to discuss the trade dispute with the United States after Trump threatened 30-percent tariffs against the EU if no deal is reached by August 1. Combat jet discord 'In the tariff dispute with the USA, we are now approaching the decisive phase,' Merz said Tuesday, urging 'a fair and reliable agreement with low tariff rates' that strengthens the transatlantic market. The two leaders also have to discuss bilateral stumbling blocks, from a joint defense project to energy and trade policy. There has been disagreement over a combat aircraft to be made jointly with Spain. Merz has objected to the idea of a greater leadership role for France while expressing confidence an agreement can be reached. The head of French defense company Dassault, Eric Trappier, on Tuesday suggested that the viability of the project was in doubt. 'We have to question the effectiveness of a project which is run by three countries ... where there isn't one real leader but three,' he told a press conference. Another tricky area is energy, where France relies heavily on nuclear power, which Germany has decided to phase out as it shifts to solar and wind power. Paris wants Berlin to commit to 'technology neutrality' and effectively classify nuclear energy as climate friendly. Germany's previous government of the Social Democrats and Greens rejected this, but Merz's center-right CDU/CSU may be more open to the idea. In a joint newspaper article in May, both leaders pledged a 'restart in energy policy' and 'equal treatment at the EU level for all low-emission energies'. Another area of discord has been an EU trade deal long in the works with South America's Mercosur bloc. While Germany strongly favors it, France has expressed fears it will badly impact its farming sector. French sources said a way forward is emerging, and that an additional protocol could add a 'robust safeguard clause for agriculture'. Merz will welcome Macron at 6:30 pm (1630 GMT) at Villa Borsig, the former residence of the commander of the post-war French occupation troops on the outskirts of Berlin. The program includes press statements, without journalists' questions, a jazz performance and a working dinner.
Yahoo
7 days ago
- Business
- Yahoo
Macron-Merz to hold talks on NATO and EU-US trade row
French President Emmanuel Macron is to meet German Chancellor Friedrich Merz in Berlin on Wednesday to discuss NATO security, the US-EU trade row and other key issues. Macron and Merz, who took power in May, have been at pains to boost the bilateral partnership at the heart of the European Union as US President Donald Trump has rocked transatlantic ties. "The most important message is: the Franco-German couple is back at work," the French presidency said ahead of Macron's planned dinner with Merz. Paris and Berlin, along with London and Warsaw, have pushed efforts to support Ukraine against Russia and build up the defence capabilities of NATO's European member states. But while Paris has signalled a willingness to send peacekeeping troops to monitor a possible Ukraine ceasefire, Berlin has so far voiced no plans to contribute. Merz and Macron were also expected to discuss the trade dispute with the United States after Trump threatened 30-percent tariffs against the EU if no deal is reached by August 1. - Combat jet discord - "In the tariff dispute with the USA, we are now approaching the decisive phase," Merz said Tuesday, urging "a fair and reliable agreement with low tariff rates" that strengthens the transatlantic market. The two leaders also have to discuss bilateral stumbling blocks, from a joint defence project to energy and trade policy. There has been disagreement over a combat aircraft to be made jointly with Spain. Merz has objected to the idea of a greater leadership role for France while expressing confidence an agreement can be reached. The head of French defence company Dassault, Eric Trappier, on Tuesday suggested that the viability of the project was in doubt. "We have to question the effectiveness of a project which is run by three countries ... where there isn't one real leader but three," he told a press conference. Another tricky area is energy, where France relies heavily on nuclear power, which Germany has decided to phase out as it shifts to solar and wind power. Paris wants Berlin to commit to "technology neutrality" and effectively classify nuclear energy as climate friendly. Germany's previous government of the Social Democrats and Greens rejected this, but Merz's centre-right CDU/CSU may be more open to the idea. In a joint newspaper article in May, both leaders pledged a "restart in energy policy" and "equal treatment at the EU level for all low-emission energies". Another area of discord has been an EU trade deal long in the works with South America's Mercosur bloc. While Germany strongly favours it, France has expressed fears it will badly impact its farming sector. French sources said a way forward is emerging, and that an additional protocol could add a "robust safeguard clause for agriculture". Merz will welcome Macron at 6:30 pm (1630 GMT) at Villa Borsig, the former residence of the commander of the post-war French occupation troops on the outskirts of Berlin. The programme includes press statements, without journalists' questions, a jazz performance and a working dinner. kol/jes/fz/tw/tc
Yahoo
20-07-2025
- Business
- Yahoo
Commerce Secretary Lutnick says he is confident US will secure trade deal with EU
WASHINGTON (Reuters) -U.S. Commerce Secretary Howard Lutnick said on Sunday he was confident the United States can secure a trade deal with the European Union, but August 1 is a hard deadline for tariffs to kick in. Lutnick said he had just gotten off the phone with European trade negotiators and there was "plenty of room" for agreement. "These are the two biggest trading partners in the world, talking to each other. We'll get a deal done. I am confident we'll get a deal done," Lutnick said in an interview with CBS' "Face the Nation." U.S. President Donald Trump threatened on July 12 to impose a 30% tariff on imports from Mexico and the European Union starting on August 1, after weeks of negotiations with the major U.S. trading partners failed to reach a comprehensive trade deal. Lutnick said that was a hard deadline. "Nothing stops countries from talking to us after August 1, but they're going to start paying the tariffs on August 1," he said on CBS. Trump announced the tariffs in a letter to European Commission President Ursula von der Leyen. He sent letters to other trading partners including Mexico, Canada, Japan and Brazil, setting blanket tariff rates ranging from 20% to 50%, as well as a 50% tariff on copper. Lutnick also said he expected Trump to renegotiate the United States-Mexico-Canada Agreement (USMCA) signed during Trump's first White House term in 2017-21. Barring any major changes, USMCA-compliant goods from Mexico and Canada are exempt from tariffs. "I think the president is absolutely going to renegotiate USMCA, but that's a year from today," Lutnick said.
