Latest news with #Šefčovič
Euractiv
a day ago
- Business
- Euractiv
Brussels says US trade deal is also ‘about Ukraine'
The EU-US trade agreement is also "about Ukraine", Brussels' trade chief Maroš Šefčovič said on Monday, in an apparent admission that the much-criticised agreement with Washington was clinched to ensure continued American military support for Kyiv. Speaking on Monday, Šefčovič said that the deal – which will impose a flat 15% tariff on most EU exports – was 'not only about trade' but tied to broader geopolitical concerns. 'It's about security; it's about Ukraine; it's about current geopolitical volatility,' Šefčovič told reporters. 'I cannot go into [all the] details [about] what was discussed yesterday, but I can assure you it was not only about trade.' Šefčovič's comments follow growing concern in Europe over the durability of US support for Ukraine, which continues to face escalating Russian attacks more than three years after the full-scale invasion began. Donald Trump – who had an explosive public spat with Ukrainian President Volodymyr Zelenskyy earlier this year – has repeatedly criticised previous US support for Ukraine and has sought to pressure both Kyiv and Moscow to end the war. However, the US president has become increasingly frustrated by Vladimir Putin's refusal to agree to a ceasefire in recent weeks, and has threatened to impose "secondary tariffs" of up to 100% on countries that purchase Russian oil. Trump also recently pledged to deliver Patriot missile defence systems to Kyiv, although he stressed they will be purchased by EU member states. Šefčovič, however, hinted that the deal was an 'additional price' to pay for getting Washington to be 'aligned' with Brussels 'on the geopolitical issues of today'. 'It has additional worth in having this deal done, because I believe that from now, we can go only for the better,' he said. A deal to divide them all Sunday's deal – which will also see the bloc purchase $750 billion worth of US oil, gas, and nuclear energy over the next three years – was also vehemently criticised by Moscow. 'The deal is clearly aimed against Russia, as it bans Russian oil and gas purchases,' said Dmitry Medvedev, a former Russian president who currently serves as deputy chairman of the Kremlin's Security Council. Hungarian Prime Minister Viktor Orbán – one of Trump's few EU allies and a close partner of Putin – denounced the agreement, accusing the US president of having "eaten Ursula von der Leyen for breakfast" during negotiations. France – which has become an increasingly fierce backer of Ukraine in recent years – similarly condemned the deal, and urged Brussels to activate its much-vaunted 'trade bazooka' to target US services exports to the EU. Several other member states including Germany, Italy, Slovakia, and Czechia offered cautious endorsements of the deal, while stressing that key details still need to be clarified. (cs)
Euronews
a day ago
- Business
- Euronews
'Best we could get': Brussels defends EU-US deal as criticism mounts
The European Commission is scrambling to defend the trade deal struck by Ursula von der Leyen and Donald Trump amid mounting criticism over its lopsided nature, arguing the tentative compromise represents the most realistic chance to avert a havoc-wreaking tariff war between the two sides of the Atlantic. "This is clearly the best deal we could get under very difficult circumstances," Maroš Šefčovič, the European Commissioner for Trade, said at a press conference on Monday. The announced deal foresees the introduction of an across-the-board 15% tariff for EU products bound for the US market. At the same time, the majority of US products bound for the EU market will benefit from a zero or virtually zero tariff. Sensitive agricultural goods, such as beef, poultry and sugar, were excluded from the agreement. The 15% rate is lower than the 30% rate that Trump threatened to slap on the bloc in a letter sent to von der Leyen earlier this month. It is also below the 20% rate that he originally announced in April as part of his controversial "reciprocal tariffs". However, it is significantly higher than the average 4.8% rate that EU exports faced upon entering US soil before Trump's return to the White House. According to Šefčovič, who sat next to von der Leyen during Sunday's make-or-break meeting, Trump kicked off the negotiations by putting the 30% again on the table. This led to a back-and-forth between the two sides until they settled for the 15% mark, applicable as "all inclusive" to block the accumulation of additional duties. Trump's 30% tariff, Šefčovič said, would have effectively halted transatlantic trade and created an "unbearable" situation with "much worse conditions" for the talks. "It's quite obvious that the world which was there before 2 April is gone. And we simply need to adjust, we need to address the challenges which are coming from this new approach," the Commissioner said. "And I believe that the strategic cooperation with our strategic partner is a better outcome than an all-out trade war." 'Between the plague and cholera' The Commission's version of events has so far failed to quell the simmering discontent. The stark difference between the 15% rate imposed on most EU goods and the 0% rate enjoyed by most US goods has fuelled the impression of an asymmetrical arrangement that exclusively favours Trump's interests to the detriment of the bloc's. The pledges to spend $700 billion in US energy and invest $600 billion in the US economy until the remainder of Trump's second term have only deepened the impression of a win-lose deal. (The pledges are indicative, not legally binding.) Bernd Lange, a German MEP who chairs the European Parliament's trade committee and is in regular contact with Šefčovič, left no doubt as to his displeasure. "My first assessment: not satisfactory. This is a lopsided deal. Concessions have clearly been made that are difficult to accept," Lange said on social media. Kathleen Van Brempt, who serves as one of the committee's vice-chairs, was more scathing, warning the deal would make the bloc more "dependent" on American fuels and ultimately "backfire" against its stated goal of strategic autonomy. "The fundamental problem remains that Trump's tariffs are illegal and violate virtually every existing trade rule," Van Brempt wrote in a statement. "Simply accepting that European products will be subject to a 15% import tariff (...) means that we are essentially agreeing to these illegal, coercive tariffs. "Avoiding a heavier 30% tariff will undoubtedly be a relief," she added. "But this remains a choice between the plague and cholera." Decrying a "heavy price" paid, Valérie Hayer, the president of the liberal Renew Europe group, said the agreed terms would lead to a "massive imbalance" between the two sides, and Terry Reintke, co-chair of the Greens, slammed the Commission for caving into "the bullying tactics and threats of President Trump". "This is not the way to do business," Reintke said. Even von der Leyen's party, the centre-right European People's Party (EPP), was unhappy with the outcome, calling the 15% a "blatant breach of WTO principles and a serious blow to European industrial competitiveness". 'A dark day' EU leaders were noticeably lukewarm in their initial reactions, welcoming the deal as an anchor of "stability" but lamenting the continuation of the punitive duties. "This is a moment of relief but not of celebration. Tariffs will increase in several areas, and some key questions remain unresolved," said Belgian Prime Minister Bart de Wever. His Dutch counterpart, Dick Schoof, said that "no tariffs would have been better", while Ireland's Micheál Martin, whose country strongly relies on the US market, predicted trade would become "more expensive" and "more challenging". Spain's Pedro Sánchez was visibly apathetic. "In any case, I support this trade agreement, but I do so without any kind of enthusiasm," he said. In France, the prime minister described the agreement as a "dark day" of "submission". The remarks expose the feeling of despondency and frustration that has gripped the EU since the start of Trump's second term. The Republican has single-handedly bulldozed over decades of transatlantic principles to promote his "America First" agenda, breaking with the Western consensus on trade, technology, climate and defence. In his press conference, Šefčovič said geopolitics had played a role in the Commission's balancing act ahead of the face-to-face meeting in Scotland. "It's not only about the trade. It's about security. It is about Ukraine. It is about current geopolitical volatility," he said. "I believe from now on, we can go only for the better." Privately, Commission officials concede the 15% rate is "not great" and hope Washington will treat the tariff as a maximum ceiling to prevent escalation down the road. But Peter Chase, a senior fellow at the German Marshall Fund, says Brussels should do better than take things for granted, given Trump's notoriously mercurial character. "Unfortunately," Chase said, "President von der Leyen and others who believe the EU's concessions bought stability for European businesses may unfortunately find that the man who shredded US commitments under international law to create 'leverage' is very likely to rip up this agreement too."
Euractiv
16-07-2025
- Business
- Euractiv
EU trade chief heads to Washington for a new round of trade talks
A technical team from the European Commission – which leads on trade for the 27-country bloc – had already travelled to Washington this week for more talks with US officials. Euractiv is part of the Trust Project AFP Jul 16, 2025 14:39 2 min. read News Based on facts, either observed and verified directly by the reporter, or reported and verified from knowledgeable sources. The EU's top trade negotiator Maroš Šefčovič is jetting to Washington on Wednesday for talks with his US counterparts as the bloc renews its push to settle the transatlantic tariffs stand-off. "Šefčovič is flying to DC this afternoon, for separate in-person meetings" with US Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer, said European Commission trade spokesman Olof Donald Trump threw months of EU-US talks into disarray over the weekend by threatening a 30 percent levy on European goods from 1 August if the transatlantic allies don't strike a deal. Leading up to Saturday's missive, Brussels thought it was on the cusp of closing a deal with Washington, but EU officials remain hopeful they can reach an agreement by the end of the month. More talks A technical team from the European Commission – which leads on trade for the 27-country bloc – had already travelled to Washington this week for more talks with US officials. The EU has until now sought to tackle trade tensions with the United States through negotiations but has prepared retaliatory tariffs if no deal is made. On Monday, Brussels shared with EU states a list of US goods worth 72 billion euros that could be hit by levies – with several capitals urging the bloc this week to toughen its stance. The 202-page document seen by AFP lists big-ticket items like US-made aircraft, cars, chemicals and electrical equipment alongside various other items, such as live bees, camels, parrots, condoms, and opium. (vib)
RTÉ News
15-07-2025
- Business
- RTÉ News
EU targets Boeing, bourbon for potential tariffs on US goods
The European Commission is targeting €72 billion worth of US goods - from Boeing aircraft and bourbon whiskey to cars - for possible tariffs if trade talks with the US fail. President Donald Trump is threatening a 30% tariff on imports from the EU from 1 August, a level European officials say is unacceptable and would end normal trade between two of the world's largest markets. The list, sent to EU member states and seen by Reuters, pre-dates Mr Trump's move over the weekend to ramp up pressure on the 27-nation bloc and responds instead to US duties on cars and car parts and a 10% baseline tariff. The package also covers chemicals, medical devices, electrical and precision equipment as well as agriculture and food products - a range of fruits and vegetables, along with wine, beer and spirits - valued at €6.35bn. Following a meeting of EU ministers in Brussels yesterday, officials said they were still seeking a deal to avoid Mr Trump's heavy tariff blow. But EU trade chief Maroš Šefčovič said those at the meeting expressed unprecedented resolve to protect EU businesses using European countermeasures if negotiations with Washington fail to produce a deal. "The message was (the) strongest I've witnessed since we started the discussion with the US. And therefore we'll negotiate first, but we'll prepare at the same time," he said at a press conference. Mr Šefčovič will talk with US trade representative Jamieson Greer this evening, an EU spokesperson said. "I can confirm that Commissioner Šefčovič will have a call with the United States Trade Representative Jamieson Greer this early evening," spokesperson Olof Gill told reporters during a daily EU briefing French Foreign Minister Jean-Noel Barrot said this morning that Mr Trump's new threat had "the appearance of blackmail", adding the priority was to find a trade agreement but not at the cost of becoming a "a vassal of the United States". Mr Trump has warned Brussels against retaliation, stating that the US would match any new European levies by simply adding them to the 30% rate. The European Commission, which oversees EU trade policy, has not yet specified a tariff rate for the products on its list. EU members will need to approve the package before it is implemented, and there is no specific date set for a vote. The commission would typically hear concerns from EU governments and then proceed with the countermeasures unless 15 countries oppose them. Europe's drinks industry, which is heavily dependent upon the US market, has been lobbying governments to exclude bourbon or any wine and spirits from the EU's list due to fear of retaliation by Washington. France, Spain and Italy have expressed concern over the potential impact on their economies. Alcoholic drinks were removed from the EU's first package of tariffs approved in April. That package on €21bn worth of US goods was immediately suspended to allow room for negotiations. Its suspension has now been extended to 6 August. The Commission initially put forward the second package in May for a public consultation, earmarking some €95bn worth of US goods for countermeasures. It has since been whittled down, though most of the main items have remained.
Euronews
15-07-2025
- Business
- Euronews
EU trade ministers discuss €72 billion retaliatory tariffs on US goods
EU Trade Commissioner Maroš Šefčovič presented EU trade ministers gathered in Brussels for an extraordinary meeting on Monday a list of €72 billion worth of US products to be included in a retaliatory tariff drive, as Washington's pressure ramped up over the weekend with the threat of 30% tariffs on EU imports starting on 1 August. 'We must be prepared for all outcomes, including if necessary, well-considered proportionate measures to restore balance in our transatlantic relationship,' Šefčovič said, adding: 'Today the Commission is sharing with the member states the proposal for the second list of goods, accounting of some €72 billion worth of US Imports. They will now have a chance to discuss it.' The list proposed by the Commission, which has been reduced to €72 billion from €95 billion following consultations with EU industries and member states, still needs to be formally adopted by the member states. It targets a wide range of products, including US-made aeroplanes and bourbon. Last Saturday, after weeks of negotiations, US President Donald Trump published on Truth Social a letter sent to the European Commission threatening to impose 30% tariffs on EU imports if no deal is reached by 1 August. Last week, negotiations appeared to have entered the final stretch, with the EU having reluctantly agreed to a baseline tariff of 10% on its imports. Sector-specific exemptions were still being negotiated, with the EU having secured 0% on aircraft and spirits, and some US tariffs just above 10% on agricultural products. 'We were very very close to an agreement in principle,' Danish foreign affairs minister Lars Løkke Rasmussen regretted. The US currently imposes tariffs of 50% on EU steel and aluminium, 25% on cars, and 10% on all EU imports. According to an EU diplomat, EU retaliation could also include export controls on aluminium scrap, which the US needs. But while the EU is flexing its muscles, it continues to prioritise negotiation. 'We remain convinced that our transatlantic relationship deserves a negotiated solution, one that leads to renewed stability and cooperation,' Maroš Šefčovič said before announcing he had a call planned with his US counterparts on Monday late afternoon. On Saturday, European Commission President Ursula von der Leyen announced a delay in the implementation of an initial retaliatory measure targeting €21 billion worth of US products, which had been suspended until Tuesday. According to the same EU diplomat, a meeting of EU ambassadors had originally decided to postpone it until the end of the year, but Trump's new announcements have made these countermeasures more urgent. They have therefore been postponed until 1 August. Anti-coercion instrument Behind the show of unity displayed on Monday by member states, diplomats are however well aware that complications will arise once a deal with the US is on the table. 'Let's be realistic, we will all have different interpretations,' an official from a member state told Euronews, admitting that once a deal is reached some countries will push for strong retaliation while others will want to avoid escalation, depending on which of their strategic sectors is most hit by the US. France continues to advocate a hard line toward the US, eager to put all the tools at the EU's disposal on the table, including the use of the anti-coercion instrument — the 'nuclear option' of EU trade defence, adopted in 2023. 'This pressure, deliberately applied by the US president in recent days and weeks, is straining our negotiating capacity and must lead us to show that Europe is a power,' French Trade Minister Laurent Saint-Martin said on arrival at the Council. 'Europe is a power when it knows how to demonstrate its ability to respond," Saint-Martin added. 'The US has escalation dominance,' a second EU diplomat told Euronews. On Sunday, von der Leyen ruled out use of the anti-coercion instrument for the time being. 'The anti-coercion is created for extraordinary situations,' she said, adding: 'We are not there yet.' The tool would allow the EU to withdraw licences and intellectual property rights from foreign companies, including US tech giants.
