The EU and the USA are actively negotiating a framework agreement on tariffs, which is expected to be completed “in the coming days.”
This announcement was made on Wednesday by EU Trade Commissioner Maros Sefcovic, who leads the EU Commission’s negotiations.
“We have made significant progress toward a framework declaration. I am optimistic that we will finalize our work shortly,” stated Maros Sefcovic.
He advocates for a framework agreement that will lay the groundwork for future agreements between the EU and the USA.
“This framework should facilitate a comprehensive agreement between the EU and the USA,” said Maros Sefcovic.
He has personally overseen the negotiations, which have accelerated ahead of Trump’s initial July 9 deadline.
“Following the agreement in May between Von der Leyen and Trump to expedite talks, our discussions have intensified. We remain in constant communication to ensure ongoing progress,” remarked Maros Sefcovic.
He highlighted that last week’s negotiations spanned four days, followed by daily video meetings.
“The negotiations are ongoing every day and are constructive,” added Maros Sefcovic.
Trump has delayed the deadline for imposing additional tariffs from July 9 to August 1, allowing for more negotiation time.
Messages from Maros Sefcovic indicate that the EU Commission is aligning with the views expressed by Germany’s Chancellor Friedrich Merz, advocating for a limited agreement to prevent escalation into a full trade war with additional tariffs from both sides.
However, some EU nations are apprehensive that a hasty agreement may lead to unfavorable conditions.
Maros Sefcovic reaffirmed that the EU Commission upholds its right to establish its own standards for products entering the European market.
“There is nothing in our joint declaration with the USA that will compromise our ability to set our own rules,” stated Maros Sefcovic.
He acknowledged that trade with the USA is expected to change, ensuring that the USA benefits more from trading with the EU:
“Let me clarify: While we aim for a satisfactory agreement, we must find a balance.”
“The trade relationship is imbalanced due to the USA’s trade deficit,” said Maros Sefcovic.
Trump has previously mentioned that he does not plan to eliminate the ten percent tariff on EU goods, which could serve as a means for the USA to restrict EU exports.
Maros Sefcovic, however, did not disclose specific details of the agreement, leaving it uncertain what tariff rates Trump might maintain even with a potential framework agreement.
Given Denmark’s role as the EU presidency country, Prime Minister Mette Frederiksen (S) was cautious in her comments regarding the negotiations during her visit to the EU Parliament in Strasbourg on Tuesday.
She expressed support for the EU Commission’s stance in the negotiations:
“There is consensus among European leaders that a trade war is detrimental. I want to emphasize this today. No one benefits from it.”
“As allies across the Atlantic, we should unite rather than diverge. Thus, my clear recommendation is to avoid tariffs or a trade war,” said Mette Frederiksen.
/ritzau/
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