EU: EU accelerates negotiations with US, requests immediate 50% tariff relief, without waiting for a final agreement

EU accelerates negotiations with US, requesting immediate 50% import tariff relief without waiting for a final agreement, before August 1 deadline, fearing impact on steel and automotive industries

On July 9, 2568 at 16.45:XNUMX p.m., Yahoo Finance reported that the President of the European Parliament’s Trade Committee said that The EU may be close to a trade deal with the US, but it still faces problems in getting immediate tariff relief and guarantees there will be no new measures.

Bernd Lange, a member of the German Social Democrats said “I see some avenues that could lead to a common understanding on tax issues, particularly on steel, automobiles and certain exemptions from the basic tax,” Although he is not part of the EU negotiating team, he is in contact with those involved in the negotiations.

The European Commission, which is negotiating on behalf of the 27 member states, is pushing for a preliminary deal with the United States by August 1, 2568.

The EU currently faces tariffs of 50% on steel, 25% on autos, and 10% on most exports from the US. A 50% tariff on copper is also coming into effect, and semiconductors and pharmaceuticals will soon be levied.

Lange said the tariffs were unacceptable to the EU, as they were an attack on the bloc’s industrial development. A key point in European negotiations was getting lower tariffs at the time of a preliminary agreement, rather than waiting weeks or months for a final deal, and requiring a stand-still clause that would prevent further tariffs from the United States.

However, he said the US has not yet made any commitments to these demands.