AsianFin -- U.S. President Donald Trump on Tuesday touted “positive” steps that the European Union has taken to speed up the trade talks after he agreed to extend the deadline for the block to face 50% tariffs.
Credit：Xinhua News Agency
“I have just been informed that the E.U. has called to quickly establish meeting dates. This is a positive event, and I hope that they will, FINALLY, like my same demand to China, open up the European Nations for Trade with the United States of America,” Trump said in a post on his social media Truth Social.
The remarks came following Trump’s announcement of walking back his EU trade threats.
Trump last Friday vowed to slap a 50% tariff starting on June 1 as negotiations between the EU and the United Sates “going nowhere.”
“The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with. Their powerful Trade Barriers, Vat Taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations, unfair and unjustified lawsuits against Americans Companies, and more, have led to a Trade Deficit with the U.S. of more than $250,000,000 a year, a number which is totally unacceptable,” Trump posted on the Truth Social platform.
However, after a phone with European Commission President Ursula von der Leyen,Trump on Sunday said he would hold off until July 9, the same deadline as Trump’s 90-day pause of his proposed 20% reciprocal tariffs on EU that is set to end. “We had a very nice call and I agreed to move it,” Trump told reporters at Morristown Airport in New Jersey on his way back to Washington.
In a post on X earlier Sunday, von der Leyen said “Europe is ready to advance talks swiftly and decisively”, adding that “to reach a good deal” needs the time until July 9.
Trump’s post on Tuesday gave few clues about possible meeting dates or issues he wants addressed inn talks, but stressed the breakdown in negotiations would lead to higher tariffs. “Remember, I am empowered to ‘SET A DEAL’ for Trade into the United States if we are unable to make a deal, or are treated unfairly,” the resident wrote.
A EU spokesperson said on Monday the result of the weekend phone call between Trump and von der Leyen provided “new impetus for the negotiations” and they agreed to “fast-track the negotiations and stay in close contact.”
Maros Sefcovic, the EU’s trade commissioner, said later Monday he had “good calls with” U.S. Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer. The EU’s chief trade negotiator said the European Commission remains fully committed to constructive and focused efforts at pace towards an EU-U.S. deal.
As another sign of the EU’s move to push forward the trade talks, Reuters reported EU officials had asked leading companies and CEOs of the region for details of their U.S. investment plans.
The European Commission will focus on its new strategy on critical sectors as well as tariff and non-tariff barriers in bid to avoid U.S. tariffs, Bloomberg cited people familiar with the matter on Tuesday. The commission was said to link its approach to addressing regulatory barriers with its plans to streamline rules, while U.S. demands that would undermine the EU’s autonomy in regulatory and tax matters are likely to remain red lines.
Sefcovic will lead the negotiations on industries such as steel and aluminum, automobiles, pharmaceuticals, semiconductors and civilian aircraft, per the sources, adding that technical discussions on tariffs and non-tariff barriers would be held in parallel.
