The Fort Worth Press - Under Trump pressure, EU seeks deal to end trade standoff

USD -
AED 3.672502
AFN 64.999433
ALL 81.696498
AMD 361.382245
ANG 1.789712
AOA 917.999597
ARS 1516.756786
AUD 1.433096
AWG 1.8
AZN 1.699706
BAM 1.748185
BBD 2.013658
BDT 123.127391
BGN 1.748028
BHD 0.377561
BIF 2997.962029
BMD 1
BND 1.279882
BOB 11.762182
BRL 5.0172
BSD 0.999768
BTN 95.208981
BWP 13.734665
BYN 3.010793
BYR 19600
BZD 2.010753
CAD 1.424135
CDF 2309.99992
CHF 0.83235
CLF 0.024839
CLP 977.605413
CNY 6.69215
CNH 6.69207
COP 3180.79
CRC 455.140667
CUC 1
CUP 23.995316
CVE 98.560013
CZK 21.782203
DJF 178.036397
DKK 6.68216
DOP 61.300011
DZD 134.518075
EGP 52.790599
ERN 15
ETB 163.304656
EUR 0.89387
FJD 2.251804
FKP 0.757299
GBP 0.754985
GEL 2.589862
GGP 0.757299
GHS 11.672745
GIP 0.757299
GMD 73.499831
GNF 8795.452108
GTQ 7.643284
GYD 209.16908
HKD 7.84785
HNL 26.836855
HRK 6.734101
HTG 130.776966
HUF 325.676501
IDR 17877.7
ILS 3.075401
IMP 0.757299
INR 95.197798
IQD 1514.712718
IRR 1779470.000341
ISK 121.749731
JEP 0.757299
JMD 158.774
JOD 0.708998
JPY 158.136499
KES 129.710159
KGS 87.449977
KHR 4068.790447
KMF 439.999943
KPW 900.00037
KRW 1340.849753
KWD 0.31174
KYD 0.833143
KZT 448.425042
LAK 22485.106611
LBP 89531.577513
LKR 330.776932
LRD 170.465515
LSL 16.486199
LTL 2.95274
LVL 0.60489
LYD 6.431227
MAD 9.775644
MDL 17.966079
MGA 4513.825266
MKD 55.034145
MMK 2100.154921
MNT 3596.159888
MOP 8.082073
MRU 40.101541
MUR 47.729838
MVR 15.449843
MWK 1733.705174
MXN 18.33199
MYR 4.087102
MZN 63.909565
NAD 16.486199
NGN 1331.420129
NIO 36.790733
NOK 9.536515
NPR 152.334728
NZD 1.78144
OMR 0.384498
PAB 0.999745
PEN 3.448908
PGK 4.535378
PHP 62.777021
PKR 276.816833
PLN 3.912745
PYG 5716.150023
QAR 3.644392
RON 4.7698
RSD 104.936963
RUB 83.875034
RWF 1477.171154
SAR 3.75707
SBD 8.078071
SCR 13.851379
SDG 601.500541
SEK 9.984465
SGD 1.279905
SHP 0.755572
SLE 24.669855
SLL 20969.498801
SOS 571.339188
SRD 37.666957
STD 20697.981008
STN 21.899246
SVC 8.748078
SYP 13002.000253
SZL 16.488791
THB 33.590977
TJS 9.228074
TMT 3.51
TND 2.993314
TOP 2.40776
TRY 49.367603
TTD 6.799401
TWD 32.159797
TZS 2630.00802
UAH 45.101809
UGX 4139.404341
UYU 40.18735
UZS 11896.206514
VES 875.701597
VND 25914
VUV 119.051984
WST 2.777036
XAF 586.340192
XAG 0.016558
XAU 0.000238716469
XCD 2.70255
XCG 1.801906
XDR 0.707052
XOF 586.340192
XPF 106.600164
YER 236.189513
ZAR 16.497298
ZMK 9001.206089
ZMW 19.904269
ZWL 321.999592
SSP 5758.266415
MXV 2.070232
  • RIO

    -0.3300

    97.04

    -0.34%

  • CMSC

    -0.0400

    20.67

    -0.19%

  • RELX

    0.0000

    33.41

    0%

  • RBGPF

    0.0000

    67.95

    0%

  • BCE

    -0.0700

    21.99

    -0.32%

  • BCC

    -0.0300

    75.66

    -0.04%

  • GSK

    0.8600

    51.08

    +1.68%

  • JRI

    -0.0300

    11.52

    -0.26%

  • NGG

    -0.1200

    76.68

    -0.16%

  • CMSD

    0.0900

    20.54

    +0.44%

  • BTI

    -0.0800

    55.75

    -0.14%

  • AZN

    2.0200

    168.1

    +1.2%

  • BP

    -1.4200

    43.16

    -3.29%

  • RYCEF

    0.4600

    19.7

    +2.34%

  • VOD

    0.0700

    17.02

    +0.41%

Under Trump pressure, EU seeks deal to end trade standoff
Under Trump pressure, EU seeks deal to end trade standoff / Photo: © AFP/File

Under Trump pressure, EU seeks deal to end trade standoff

The EU headed into late-night talks Tuesday seeking a deal towards implementing its nearly year-old trade pact with the United States -- with an impatient President Donald Trump threatening steep new tariffs unless it is done by July 4.

Text size:

The 27-nation bloc struck an accord with Washington last July setting levies on most European goods at 15 percent, but a final version of the text still needs to be nailed down on the EU side -- to Trump's frustration.

Negotiators from the EU's parliament and capitals kicked off closed-door negotiations just after 9:00 pm (1900 GMT) for talks that were expected to stretch late into the night.

They hope to seal a compromise that would allow the bloc to meet Trump's deadline and turn the page on more than a year of transatlantic trade battles.

"A deal is a deal," the US mission to the EU posted on X ahead of the meeting, saying the bloc "must live up" to the agreement sealed in Turnberry, Scotland, between Trump and EU chief Ursula von der Leyen.

Short of that, Trump has warned the European Union should expect "much higher" tariffs -- and has already vowed to raise duties on European cars and trucks from 15 to 25 percent.

The tariff blitz unleashed by Trump before the Turnberry accord, including hefty levies on steel, aluminium and car parts, jolted the bloc into cultivating trade ties around the world.

But the EU cannot afford to neglect the 1.6-trillion-euro ($1.9-trillion) relationship with the United States, its largest trade partner.

Cyprus, which holds the rotating presidency of the EU, said its goal remains "the swift implementation of the EU-US joint statement".

To reach a compromise with member states, parliament is under pressure to renege on several amendments it added to the text in March that the Americans consider unacceptable.

The head of parliament's trade committee, Bernd Lange, struck an optimistic note, saying: "I hope we can reach a compromise."

But first, he needs to hammer out a common stance between the parliament's different factions, which were haggling until the last moment.

- 'Sunrise' to 'sunset' -

The EU parliament's conditional green light came after months of delay caused by Trump's designs on Greenland and a US Supreme Court ruling striking down many of the president's tariffs.

The assembly's largest force, the conservative European People's Party (EPP), to which von der Leyen belongs, is now pushing hard to implement the accord, which it says is vital to ending a period of damaging uncertainty for EU businesses.

EPP lawmaker Zeljana Zovko told AFP she was "confident that we will get it done".

The EPP has firm support from the hard-right ECR, but several political groups had yet to make their position public, and it remained unclear how far the majority would compromise to get a deal.

Lawmaker Kathleen Van Brempt of the Socialists and Democrats, parliament's second-biggest group, said they would "engage constructively" but fight for safeguards "to guarantee stability, predictability and protection for European businesses and workers".

One bone of contention is a suspension clause toughened by parliament that would scrap favourable tariff conditions for US exporters, should the United States later breach the terms of the deal.

Another concerns so-called "sunrise" and "sunset" clauses under which the EU side of the accord would kick in once the United States makes fully good on its pledges, and would expire unless renewed in 2028.

Green lawmaker Anna Cavazzini said "the odds are good" but warned that member states would need to "budge" on parliament's main priorities.

"These past weeks have shown time and again that Trump is not to be trusted, so the EU needs stronger tools at hand," she said.

M.Cunningham--TFWP