The European Union has moved closer to finalising a trade agreement with the United States in an effort to avoid a new tariff escalation threatened by President Donald Trump. The proposed deal is aimed at stabilising transatlantic trade ties amid mounting economic and political pressure.
EU member states approved the legal framework needed to implement the agreement, which would reduce tariffs on several American goods in exchange for avoiding higher U.S. duties on European exports, including cars.
European Trade Commissioner Maroš Šefčovič welcomed the decision, saying the agreement would strengthen transatlantic stability and cooperation while protecting European interests.
Trump has warned that if the deal is not fully finalised by 4 July, Washington could proceed with higher tariffs, fuelling fears of a renewed trade dispute between the two sides.
Critics argue that Brussels is making too many concessions by expanding market access for U.S. industrial, agricultural and seafood products while the United States maintains a 15% baseline tariff on most EU exports.
A tougher safeguard clause that would have required Washington to act first was ultimately removed, reflecting concerns within the EU about linking trade too closely to broader geopolitical disputes.
Supporters of the agreement argue that avoiding a trade war with Europe’s largest export market is essential as the bloc’s economy continues to face pressure.
The deal also includes provisions allowing Brussels to suspend the agreement if the U.S. fails to meet its commitments. The arrangement is due to expire in 2029 unless it is renewed.
Iran said it was nearing a final pact with Oman defining new shipping lanes between them through the Strait of Hormuz but repeated that the U.S. must ...
At least 77 people were killed after a powerful earthquake struck western Colombia early on Monday, toppling buildings across several cities and leavi...
A consortium including Amazon founder Jeff Bezos is reportedly close to agreeing a deal to acquire a roughly one-third stake in Premier League club Li...
Flights arriving at Catania airport in eastern Sicily were suspended after volcanic ash from a new eruption of Mount Etna drifted into the airspace around the airport, disrupting operations at one of Italy’s busiest aviation hubs.
A deal on a new route for vessels through the Strait of Hormuz is "very close," Iranian Foreign Minister Abbas Araghchi has said, while warning that the reopening of the waterway depends on the U.S. meeting other conditions, including paying compensation to Iran.
Iran said it was nearing a final pact with Oman defining new shipping lanes between them through the Strait of Hormuz but repeated that the U.S. must meet other conditions.
Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 9th of August, covering the latest developments.
Christopher Nolan’s The Odyssey has surpassed $1.1 billion at the global box office, becoming the highest-grossing film of the director’s career.
At least 77 people were killed after a powerful earthquake struck western Colombia early on Monday, toppling buildings across several cities and leaving people trapped under rubble.
A consortium including Amazon founder Jeff Bezos is reportedly close to agreeing a deal to acquire a roughly one-third stake in Premier League club Liverpool, according to multiple media reports on Monday.
Eclipse fever is building in Madrid as residents and visitors rush to secure protective glasses ahead of a rare total solar eclipse near sunset on Wednesday (12 August).
A gunman was arrested after opening fire at a local government office near Bangkok on Monday, days after a deadly school shooting renewed debate over gun control in Thailand.
Flights arriving at Catania airport in eastern Sicily were suspended after volcanic ash from a new eruption of Mount Etna drifted into the airspace around the airport, disrupting operations at one of Italy’s busiest aviation hubs.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment