The EU and the US, close to a commercial agreement. It has been reached an agreement on customs duties for Europe, but Trump's approval is needed
Trump's customs duties risk creating a huge fault in the US-EU commercial relationship. Photo: Shutterstock
A commercial agreement between the EU and the United States seems to be outlined before the deadline of August 1, which does not prevent Europeans from threatening reprisals in case of failure, reports France Presse.
An agreement is “one step away”, a spokesman for the European Commission, Olof Gill, gave assurances on Thursday.
German Chancellor Friedrich Merz mentioned on Wednesday, along with French President Emmanuel Macron, imminent “decisions” in these commercial negotiations, who have already experienced several situation reversals since Donald Trump returned to the White House.
Came to an agreement on customs taxes for Europe
According to several European sources of AFP, the agreement provides for 15% customs surcharge on European exports to the United States, with exemptions especially for the aeronautical industry, spirits or certain drugs.
A separate agreement is targeting steel. Imports from Europe would be regulated by quotas, and any exceedance would be charged with 50%, according to diplomats.
And to ensure their every chance, Europeans also take the example, according to these sources, from the agreement concluded this week between the United States and Japan. It provides for customs duties fixed to 15%, but also important Japanese investments in the United States.
However, this project of global agreement remains waiting for the approval of the US president. It has already rejected a more favorable EU previous version with 10%customs duties.
The United States is “in serious negotiations with Europeans,” said US president on Wednesday. And, “if he accepts to open the Union for American companies, then we will allow them to pay lower customs,” added Donald Trump.
EU wants to show their muscles
And in the case of failure, Europeans announced on Thursday that they had developed the latest details of possible reprisals: a list of American goods that would be charged with a total of 93 billion euros, starting August 7.
Trump has surprised the European Union on July 12, announcing 30% customs duties for all EU imports starting August 1.
This time, the European Union intends to “show its muscles”, according to a diplomat from Brussels. And he is ready to remove “Bazooka” in the event of a failure at the end of the month, several European diplomats have provided.
This, the “anti-coercion instrument”, was designed to be “the most powerful means of discouragement” at the EU, according to the Commission spokesman.
It allows, among other things, to freeze access to European public markets or block certain investments.
Its implementation requires the qualified majority of the EU countries, which was obtained, thanks to Germany, previously reluctant to the idea, according to these sources.
But for some analysts, the preparation agreement is far from defending Europe's interests. For the Belgian economist Eric Dor, a teacher at Ieseg from Paris, is simply a “capitulation”, dangerous for a European economy already in difficulty.
