TMTPOST -- The United States and the European Union may seriously move toward first trade negotiations since U.S. President Donald Trump suspended most of reciprocal tariffs more than a month ago.
Credit：Xinhua News Agency
The U.S. and the EU have initiated serious trade discussions to head off the biggest of Trump’s tariffs, breaking an impasse that left the bloc near the black of the line for trade talks with the White House, the Financial Times reported on Friday. Both parties in recent days have exchanged negotiating documents for the first time, outlining areas for talks ranging from tariffs to digital trade and investment opportunities, the report cited an EU briefing note.
The EU has revised its proposal to push a potential trade deal with U.S. even though the Trump team still provided and made demands that negotiators see as unrealistic, Bloomberg on Thursday learned from sources. The new EU proposal reportedly provides more details on ways to lower trade and non-tariff barriers, as well as boost European investments within the US and purchases of US goods, including liquefied natural gas and semiconductors for use in artificial intelligence (AI).
The report came as Trump acknowledged the administration is unable to handle tariff talks with so many trading partners by a self-imposed deadline early July. Earlier Friday, Trump said he would set tariff rates for other countries “over the next two to three weeks”, and Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick would send letters to these nations “telling people what they will be paying to do business in the United States.”
Trump didn’t specify which countries would receive letters about his proposed tariff rates and which would have the opportunities to start negotiations, but stated there are 150 countries seeking to make a deal. "I guess you could say they could appeal it, but for the most part I think we're going to be very fair. But it's not possible to meet the number of people that want to see us," said the president.
Trump earlier this month said he would simply dictate tariff levels for many nations looking to avoid higher duties. There were simply “too many nations to negotiate with all at once,” the Politico on Friday quoted a person familiar with negotiations. The person implied that the Trump administration plans to impose a specific tariff level after July while other deals will be negotiated “in due course.”
White House spokesman Kush Desai declined to share details of the new tariff plan. “President Trump is focused on reducing our historic trade deficit and leveling the playing field for American industries and workers,” said Desai. “Quick action on the President’s agenda is critical to restore American Greatness.”
Trump said on April 9 in a post he has authorized a 90-day pause and “a substantially lowered reciprocal tariff” of 10% during this period, both effective immediately. The White House clarified that Trump’s announcement of a 90-day pause on tariffs means that the “tariff level will be brought down to a universal 10% tariff” during that time, while “negotiations are ongoing.”
The EU a day later decided to temporarily pause the implementation of its countermeasures for talks over possible trade deals. The European Commission estimated a total of nearly €21 billion worth of goods imported from the U.S. will be affected by its countermeasures against U.S. tariffs on steel and aluminum imports.
“We took note of the announcement by President Trump. We want to give negotiations a chance. While finalising the adoption of the EU countermeasures that saw strong support from our Member States, we will put them on hold for 90 days, ” von der Leyen said in a statement on on April 10.
Von der Leyen still cautioned U.S. higher tariffs on the EU. “If negotiations are not satisfactory, our countermeasures will kick in. Preparatory work on further countermeasures continues,” head of the EU executive branch said. “As I have said before, all options remain on the table.”
The EU has readied for possible countermeasures in case of failure to reach agreements with the Trump administration.The European Commission last week said it has launched a public consultation on a list of US imports for the possible EU countermeasures, if ongoing EU-US negotiations do not result in a mutually beneficial outcome and the removal of the US tariffs. The list of U.S. goods, which could be subject to the countermeasures, is totally worth of €95 billion ($107.4 billion), covering a broad range of industrial and agricultural products.
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