The EU provides for commercial discussions “accelerate” with us in the middle of the pricing combat
The European Union said it had agreed to accelerate negotiations with the United States to avoid a transatlantic trade war, reporting a more friendly approach just days after President Donald Trump criticized the block for taking advantage of the United States and slow march.
“There is now a new impetus for negotiations,” Paula Pinho, spokesperson for the European Commission, said on Monday, a day after the president of the Ursula von der Leyen commission spoke with Trump by phone. “They agreed both to accelerate commercial negotiations and stay in close contact.”
After the call, Trump extended the deadline to reach the EU with 50% prices of more than a month until July 9 to allow more negotiations. “We had a very nice call and I agreed to move it,” Trump told journalists on Sunday.
Until now, discussions have been assailed with a multitude of problems, without a clear path to find common ground that will appease them both. Europeans have complained that it is not clear what the United States wants or even speaking for the American president, and the United States has declared that the EU unjustly targets US companies with prosecution and regulations.
EU’s head of commerce, Maros Sefcovic, was to speak on Monday with the US Secretary of Commerce Howard Lutnick. EU ambassadors also had to hold a last -minute meeting on Monday to discuss the latest developments with the Commission.
The term contracts on the American and European actions index climbed with Asian actions on Monday. The dollar has fluctuated after falling at its lowest level since December 2023.
The pricing threat of 50% of Trump would reach $ 321 billion in American products, reducing American gross domestic product by almost 0.6% and increasing prices by more than 0.3%, according to Bloomberg Economics calculations.
After a first exchange of documents, the United States rejected last week a proposal sent by the Commission, which manages business issues on behalf of the 27 EU member states. The EU had proposed to jointly delete the prices on industrial goods, to stimulate access to certain American agricultural products and to co-develop AI data centers, Bloomberg reported.
Although the EU said that his priority was to find a negotiated solution with the United States, he also prepared to retaliate if necessary.
The EU has approved prices on 21 billion euros ($ 23.9 billion) of American goods in response to Trump’s metal samples which can be quickly implemented. They target politically sensitive American states and include products such as Louisiana soybeans, the president of the house at home Mike Johnson, as well as agricultural products, poultry and motorcycles.
The block also prepares an additional list of prices on 95 billion euros in American products. These measures, which are in response to Trump’s “reciprocal” samples and car tasks, would target industrial goods, including Boeing Co., cars made in the United States and Bourbon.
Some Member States have urged the cool heads when approaching the tariff deadline. The German Minister of the Economy Katherina Reiche said that the EU and the United States had to “calm down” before the talks.
“We have to find common ground. This must be the goal,” Reiche told a Handelsblatt event in Heilbronn on Monday. At the same time, the United States must understand that prices have also hurt them, she said. “There are still six weeks left to find a solution,” said Reiche.
This story was initially presented on Fortune.com
