European Commission President Ursula von der Leyen travelled to Scotland on Saturday ahead of a meeting with US President Donald Trump scheduled for Sunday evening. Officials from both sides have indicated that a trade agreement is within reach.
During his visit to Scotland for a few days of golfing and bilateral discussions, Trump told reporters on Friday evening that he looked forward to meeting von der Leyen, describing her as a “highly respected leader.” He assessed the chances of reaching a framework trade deal between the US and the 27-member European Union as “50-50.” Trump added that Brussels was “very keen” to strike a deal.
If successful, Trump said the agreement would be the largest trade deal secured by his administration to date, surpassing the $550 billion accord recently reached with Japan.
Ahead of the summit, US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick departed Washington for Scotland to engage in high-level talks with EU officials. A source from the administration, speaking on condition of anonymity, expressed cautious optimism, saying, “We’re hopeful a deal will be reached, but nothing is final until it’s done.”
On Thursday, the European Commission stated that a negotiated trade solution with the US was “within sight,” even as EU members approved counter-tariffs on $109 billion (€93 billion) worth of American goods should talks fail.
Diplomatic sources suggest the agreement could include a general 15% tariff on EU goods entering the US, alongside a 50% tariff on European steel and aluminium. This rate would be half of the 30% tariffs Trump threatened to impose from 1 August.
To secure a deal, Trump has insisted the EU “buy down” the 30% tariff, although he provided no specifics. He told reporters there was “little wiggle room” on the 50% tariffs on steel and aluminium imports, adding, “If I do it for one, I have to do it for all.”
It remains unclear whether Washington will exempt EU imports from other sectoral tariffs on automobiles, pharmaceuticals, and other goods that have already been announced or are pending.
Combined, goods, services, and investment make the EU and the US each other’s largest trading partners by a significant margin. The American Chamber of Commerce in Brussels warned in March that any disruption could jeopardise $9.5 trillion worth of business within the world’s most vital commercial relationship.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 10th of December, covering the latest developments you need to...
The world’s leading minds and voices will be honoured on Wednesday, 10 December, the anniversary of Alfred Nobel’s death, as Nobel Prizes are pres...
Heavy artillery fire and deadly skirmishes have shattered a fragile ceasefire agreement along the disputed frontier between Southeast Asian neighbours...
The United Nations Security Council has issued warnings about the rapidly worsening humanitarian crisis in Ukraine, citing a sharp surge in civilian c...
Ukrainian President Volodymyr Zelenskyy said on Tuesday he was prepared to hold elections within three months if the U.S. and Kyiv's other allies coul...
Heavy artillery fire and deadly skirmishes have shattered a fragile ceasefire agreement along the disputed frontier between Southeast Asian neighbours Thailand and Cambodia, forcing massive evacuations of people to safety and drawing urgent calls for de-escalation from the international community.
The United Nations Security Council has issued warnings about the rapidly worsening humanitarian crisis in Ukraine, citing a sharp surge in civilian casualties amidst Russia's intensified aerial attacks, marking the deadliest period of the war in more than a year.
Australia on Wednesday became the first country to ban social media for children under 16, blocking access to platforms including TikTok, Alphabet's YouTube and Meta's Instagram and Facebook.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 10th of December, covering the latest developments you need to know.
Authorities in Japan lifted all tsunami warnings on Tuesday following a strong 7.5-magnitude earthquake that struck off the northeastern coast late on Monday, injuring at least 30 people and forcing around 90,000 residents to evacuate their homes.
Scores of demonstrators gathered outside the Norwegian Nobel Institute in Oslo Tuesday (9 December) to protest against the awarding of this year’s Nobel Peace Prize to Venezuelan opposition leader Maria Corina Machado.
Pressure is mounting between Venezuela and the United States as both nations emphasise military preparedness and strategic positioning.
Tehran has protested to Washington because of the travel ban on its football team delegation as well as Iranian fans who would like to travel to the United States for the upcoming World Cup matches in 2026.
Paramount Skydance (PSKY.O) has launched a $108.4 billion hostile takeover bid for Warner Bros Discovery (WBD.O). The escalation follows a high-stakes battle that had appeared to end last week when Netflix secured a $72 billion deal for the studio giant’s assets.
Start your day informed with AnewZ Morning Brief: here are the top news stories for the 10th of December, covering the latest developments you need to know.
The world’s leading minds and voices will be honoured on Wednesday, 10 December, the anniversary of Alfred Nobel’s death, as Nobel Prizes are presented in Stockholm and Oslo.
Heavy artillery fire and deadly skirmishes have shattered a fragile ceasefire agreement along the disputed frontier between Southeast Asian neighbours Thailand and Cambodia, forcing massive evacuations of people to safety and drawing urgent calls for de-escalation from the international community.
The United Nations Security Council has issued warnings about the rapidly worsening humanitarian crisis in Ukraine, citing a sharp surge in civilian casualties amidst Russia's intensified aerial attacks, marking the deadliest period of the war in more than a year.
Ukrainian President Volodymyr Zelenskyy said on Tuesday he was prepared to hold elections within three months if the U.S. and Kyiv's other allies could ensure the security of the vote.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment