News Trade tariffs
'Trump threatens 17% tariff on agricultural products'
July 9, next Wednesday, marks the end of the period in which Donald Trump reduced import tariffs for the European Union from 20% to 10%. According to The Guardian en Financial Times Trump is now threatening 17% import duties on food and agricultural products.
The newspapers report that EU Trade Commissioner Maroš Šefčovič received the threat last Thursday during a meeting with US Treasury Secretary Scott Bessent, Trade Representative Jamieson Greer and Trade Minister Howard Lutnick. Yesterday (Sunday, July 6), European Commission President Ursula von der Leyen and Trump had "a good conversation" on the phone, Reuters news agency quotes a Commission spokesperson as saying.
EU trade spokesman Olof Gill told The Guardian that progress has been made towards an agreement in principle. A week and a half ago, the US sent a proposal for such an agreement to Brussels. Various media reported at the time, citing diplomatic sources, that the European Union wants to accept a basic tariff of 10%, but wants to negotiate on the 25% import duties for cars, which hurts the German car industry.
August 1 as new start date
Trump wants to unilaterally impose import duties on the countries with which no deal is made after July 9, according to what he last said from 10, 20% to 60, 70%. Incidentally, according to the latest reports, new import duties will go into effect on August 1, which would give there a bit more time to make agreements, but it will also take longer before clarity is provided.
Linda van Eekeres
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