Latest news with #transatlantic trade
Al Jazeera
a day ago
- Automotive
- Al Jazeera
How European leaders are reacting to EU-US trade deal
The United States and the European Union have struck a wide-ranging trade deal, imposing a 15 percent import tariff on most EU goods, evading an all-out transatlantic trade war. The deal was hashed out on Sunday between US President Donald Trump and European Commission President Ursula von der Leyen in Scotland, before an August 1 deadline for the introduction of steep tariffs. Both Trump and von der Leyen lauded the deal as an important step, with the US leader hailing it as the 'biggest deal' ever made, and the EU chief stating it will bring much-needed 'stability' and 'predictability'. But what are European leaders saying about the deal with the EU's largest trading partner? Here are some reactions: 'The trade conditions will not be as good as before, and it is not our choice, but a balance must be found that stabilises the situation and that both sides can live with,' said Danish Foreign Minister Lars Lokke Rasmussen. Finnish Prime Minister Petteri Orpo said the agreement brings 'much-needed predictability to the global economy and Finnish companies'. 'Work must continue to dismantle trade barriers. Only free transatlantic trade benefits both sides the most,' he said. 'It is a sombre day when an alliance of free peoples, brought together to affirm their common values and to defend their common interests, resigns itself to submission,' said French Prime Minister Francois Bayrou. German Chancellor Friedrich Merz said the agreement has 'succeeded in averting a trade conflict that would have hit the export-orientated German economy hard'. 'This applies in particular to the automotive industry, where the current tariffs of 27.5 percent will be almost halved to 15 percent.' A government spokesperson told the Reuters news agency that Berlin sees the need for further negotiations. 'It is certainly no secret that in the steel and aluminium sector … We see a need for further negotiations,' the spokesperson said during a news conference in Berlin. He added that details of the deal remained to be worked out, and that 'the EU Commission and the German government are now fully committed to this.' Hungarian Prime Minister Viktor Orban slammed the deal. 'This is not an agreement … Donald Trump ate von der Leyen for breakfast, this is what happened, and we suspected this would happen as the US president is a heavyweight when it comes to negotiations, while Madame President is featherweight,' he said. Irish Trade Minister Simon Harris said the deal provides a 'measure of much-needed certainty for Irish, European and American businesses who together represent the most integrated trading relationship in the world'. 'While Ireland regrets that the baseline tariff of 15 percent is included in the agreement, it is important that we now have more certainty on the foundations for the EU-US trade relationship, which is essential for jobs, growth and investment,' he said. 'I consider it positive that there is an agreement, but if I don't see the details, I am not able to judge it in the best way,' said Italian Prime Minister Giorgia Meloni. Speaking at a summit in Ethiopia, she said a 'trade escalation between Europe and the United States would have had unpredictable and potentially devastating consequences'. Meloni – a Trump ally on many issues – had warned earlier this month against a 'trade war within the West'. In a statement, the Romanian government's press office said Prime Minister Ilie Bolojan 'salutes that a trade agreement was reached and … feels it is a good omen'. 'It eliminates present unclearness which caused disruptions and uncertainties in transatlantic trade relations,' it said. Spanish Prime Minister Pedro Sanchez said he backed the deal but 'without any enthusiasm'. 'I value the constructive and negotiating attitude of the president of the European Commission. In any case, I support this trade agreement, but I do so without any enthusiasm,' he told a news conference. 'This agreement does not make anyone richer, but it may be the least bad alternative. What appears to be positive for Sweden, based on an initial assessment, is that the agreement creates some predictability,' said Swedish Trade Minister Benjamin Dousa.
Sky News
2 days ago
- Business
- Sky News
PM to hold talks with Trump today - but will have to walk a fine diplomatic line
Gaza and transatlantic trade are set to dominate talks between Donald Trump and Sir Keir Starmer when the pair meet in Scotland later. Downing Street said the prime minister would discuss "what more can be done to secure the ceasefire [in the Middle East] urgently", during discussions at the president's Turnberry golf course in Ayrshire. Talks in Qatar over a ceasefire ended on Thursday after the US and Israel withdrew their negotiating teams. 13:22 Mr Trump blamed Hamas for the collapse of negotiations as he left the US for Scotland, saying the militant group "didn't want to make a deal… they want to die". Sir Keir has tried to forge close personal ties with the president - frequently praising his actions on the world stage despite clear foreign policy differences between the US and UK. The approach seemed to pay off in May when Mr Trump announced the agreement of a trade deal with the UK that would see several tariffs lowered. The two leaders are expected to discuss this agreement when they meet, with the prime minister likely to press the president for a lowering of outstanding tariffs on imports such as steel. 3:31 Prior to the visit, the White House said the talks would allow them to "refine the historic US-UK trade deal". That comes hot on the heels of the US reaching an agreement with the EU, which Mr Trump described as the "biggest dal ever made". This will see 15% tariffs imposed on most European goods entering America, despite the president previously threatening a 30% levy. 1:30 Extracting promises from the president on the Middle East may be harder though. Despite some reports that Mr Trump is growing frustrated with Israel, there is a clear difference in tone between the US and its Western allies. As he did over the Ukraine war, Sir Keir will have to walk a diplomatic line between the UK's European allies and the White House. On Thursday, French President Emmanuel Macron announced his country would formally recognise a Palestinian state in September, the first member of the G7 to do so. That move was dismissed by Mr Trump, who said it "doesn't carry any weight". 0:45 The UK, French and German leaders spoke over the weekend and agreed to work together on the "next phase" in Gaza that would see transitional governance and security arrangements put in place, alongside the large-scale delivery of aid. Under pressure from members of his own party and cabinet to follow France and signal formal recognition of Palestine, Sir Keir has gradually become more critical of Israel in recent months. On Friday, the prime minister said "the starvation and denial of humanitarian aid to the Palestinian people, the increasing violence from extremist settler groups, and Israel's disproportionate military escalation in Gaza are all indefensible". Government sources say UK recognition is a matter of "when, not if" - but it's thought Downing Street wants to ensure any announcement is made at a time when it can have the greatest diplomatic impact. 1:19 Cabinet ministers will be convened in the coming days, during the summer recess, to discuss the situation in Gaza. The UK has also been working with Jordan to air drop supplies, after Israel said it would allow foreign countries to provide aid to the territory. Donald Trump's trip to Scotland comes ahead of his second state visit to the UK in September. Downing Street says Ukraine will also likely be discussed in the meeting with both men reflecting on what can be done to force Russia back to the negotiating table. After the meeting at Turnberry, the prime minister will travel with the president to Aberdeen for a private engagement.
Yahoo
2 days ago
- Business
- Yahoo
Sir Keir Starmer set for Donald Trump trade talks as PM walks diplomatic line between EU allies and US on Gaza
Gaza and transatlantic trade are set to dominate talks between Donald Trump and Sir Keir Starmer when the pair meet in Scotland on Monday. Downing Street said the prime minister would discuss "what more can be done to secure the ceasefire [in the Middle East] urgently", during the meeting at the president's Turnberry golf course in Ayrshire. Talks in Qatar over a ceasefire ended on Thursday after the US and Israel withdrew their negotiating teams. Mr Trump blamed Hamas for the collapse of negotiations as he left the US for Scotland, saying the militant group "didn't want to make a deal… they want to die". Sir Keir has tried to forge close personal ties with the president, frequently praising his actions on the world stage despite clear foreign policy differences between the US and UK. The approach seemed to pay off in May when Mr Trump announced the agreement of a trade deal with the UK that would see several tariffs lowered. The two leaders are expected to discuss this agreement when they meet, with the prime minister likely to press the president for a lowering of outstanding tariffs on imports such as steel. Prior to the visit, the White House said the talks would allow them to "refine the historic US-UK trade deal". Extracting promises from the president on the Middle East may be harder though. Despite some reports that Mr Trump is growing frustrated with Israel, there is a clear difference in tone between the US and its Western allies. As he did over the Ukraine war, Sir Keir will have to walk a diplomatic line between the UK's European allies and the White House. On Thursday, French President Emmanuel Macron announced his country would formally recognise a Palestinian state in September, the first member of the G7 to do so. That move was dismissed by Mr Trump, who said it "doesn't carry any weight". Read more from Sky News:US and EU agree trade deal - with bloc facing 15% tariffsGeldof accuses Israel of 'lying' about Gaza starvation The UK, French and German leaders spoke over the weekend and agreed to work together on the "next phase" in Gaza that would see transitional governance and security arrangements put in place, alongside the large-scale delivery of aid. Under pressure from members of his own party and cabinet to follow France and signal formal recognition of Palestine, Sir Keir has gradually become more critical of Israel in recent months. On Friday, the prime minister said "the starvation and denial of humanitarian aid to the Palestinian people, the increasing violence from extremist settler groups, and Israel's disproportionate military escalation in Gaza are all indefensible". Government sources say UK recognition is a matter of "when, not if", however, it's thought Downing Street wants to ensure any announcement is made at a time when it can have the greatest diplomatic impact. Cabinet ministers will be convened in the coming days, during the summer recess, to discuss the situation in Gaza. The UK has also been working with Jordan to air drop supplies, after Israel said it would allow foreign countries to provide aid to the territory. President Trump's trip to Scotland comes ahead of his second state visit to the UK in September. Downing Street says Ukraine will also likely be discussed in the meeting with both men reflecting on what can be done to force Russia back to the negotiating table. After the meeting at Turnberry, the prime minister will travel with the president to Aberdeen for a private engagement. Mr Trump is also expected to meet Scottish First Minister John Swinney while in the country.
Sky News
2 days ago
- Business
- Sky News
Sir Keir Starmer set for Donald Trump trade talks as PM walks diplomatic line between EU allies and US on Gaza
Gaza and transatlantic trade are set to dominate talks between Donald Trump and Sir Keir Starmer when the pair meet in Scotland on Monday. Downing Street said the prime minister would discuss "what more can be done to secure the ceasefire [in the Middle East] urgently", during the meeting at the president's Turnberry golf course in Ayrshire. Talks in Qatar over a ceasefire ended on Thursday after the US and Israel withdrew their negotiating teams. Mr Trump blamed Hamas for the collapse of negotiations as he left the US for Scotland, saying the militant group "didn't want to make a deal… they want to die". Sir Keir has tried to forge close personal ties with the president, frequently praising his actions on the world stage despite clear foreign policy differences between the US and UK. The approach seemed to pay off in May when Mr Trump announced the agreement of a trade deal with the UK that would see several tariffs lowered. The two leaders are expected to discuss this agreement when they meet, with the prime minister likely to press the president for a lowering of outstanding tariffs on imports such as steel. Prior to the visit, the White House said the talks would allow them to "refine the historic US-UK trade deal". Extracting promises from the president on the Middle East may be harder though. 1:30 Despite some reports that Mr Trump is growing frustrated with Israel, there is a clear difference in tone between the US and its Western allies. As he did over the Ukraine war, Sir Keir will have to walk a diplomatic line between the UK's European allies and the White House. On Thursday, French President Emmanuel Macron announced his country would formally recognise a Palestinian state in September, the first member of the G7 to do so. That move was dismissed by Mr Trump, who said it "doesn't carry any weight". 0:45 The UK, French and German leaders spoke over the weekend and agreed to work together on the "next phase" in Gaza that would see transitional governance and security arrangements put in place, alongside the large-scale delivery of aid. Under pressure from members of his own party and cabinet to follow France and signal formal recognition of Palestine, Sir Keir has gradually become more critical of Israel in recent months. On Friday, the prime minister said "the starvation and denial of humanitarian aid to the Palestinian people, the increasing violence from extremist settler groups, and Israel's disproportionate military escalation in Gaza are all indefensible". Government sources say UK recognition is a matter of "when, not if", however, it's thought Downing Street wants to ensure any announcement is made at a time when it can have the greatest diplomatic impact. 1:19 Cabinet ministers will be convened in the coming days, during the summer recess, to discuss the situation in Gaza. The UK has also been working with Jordan to air drop supplies, after Israel said it would allow foreign countries to provide aid to the territory. President Trump's trip to Scotland comes ahead of his second state visit to the UK in September. Downing Street says Ukraine will also likely be discussed in the meeting with both men reflecting on what can be done to force Russia back to the negotiating table. After the meeting at Turnberry, the prime minister will travel with the president to Aberdeen for a private engagement. Mr Trump is also expected to meet Scottish First Minister John Swinney while in the country.
