The European Union is making significant progress toward securing a €50 billion trade deal with the United States, according to EU Trade Commissioner Maroš Šefčovič.
The proposed deal would involve the EU purchasing €50 billion more in U.S. products, aiming to reduce the trade deficit between the two. Šefčovič pointed to sectors like liquefied natural gas (LNG) and agricultural products, such as soybeans, as key areas for increased U.S. exports to Europe. He expressed confidence that these measures could quickly address the deficit issue, noting that discussions were ongoing with U.S. officials, including U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick.
However, Šefčovič suggested that any substantial trade arrangement would require the Trump administration to remove its existing 10% tariffs on European goods, which were imposed as part of broader trade policies. These tariffs, which remain in place after a brief delay of reciprocal measures in April, have been a point of contention between the EU and the U.S. government.
The situation remains complex, with Šefčovič acknowledging that reaching an acceptable deal for EU member states and parliament would be challenging. The trade relationship between the EU and the U.S. has been fraught with tension, especially following the Trump administration's imposition of tariffs on steel and aluminum, to which the EU responded with its own set of countermeasures.
The uncertainty surrounding the trade negotiations has left global markets and governments concerned about the future of transatlantic commerce, with many waiting for a clearer resolution. The EU has repeatedly emphasized its desire to give negotiations a chance, as EU Commission President Ursula von der Leyen put it during a previous 90-day pause on countermeasures against the U.S.
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Cambodian Prime Minister Hun Manet said Saturday that the border conflict with Thailand “must be resolved with patience and through legal and diplomatic channels.”
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A bridge collapse in the Vygonichsky district of Russia’s Bryansk region, near the Ukrainian border, caused a train derailment and a traffic accident early Sunday, killing at least seven people and leaving 30 injured, according to emergency services.
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Landslides and flash floods caused by days of heavy monsoon rain have killed at least 22 people in India’s northeast, officials said.
Cambodian Prime Minister Hun Manet said Saturday that the border conflict with Thailand “must be resolved with patience and through legal and diplomatic channels.”
Landslides and flash floods caused by days of heavy monsoon rain have killed at least 22 people in India’s northeast, officials said.
Cambodian Prime Minister Hun Manet said Saturday that the border conflict with Thailand “must be resolved with patience and through legal and diplomatic channels.”
Iran’s Foreign Minister Abbas Araqchi spoke by phone with IAEA Director Rafael Mariano Grossi, warning that any political actions against Iran at next week’s Board of Governors meeting would have consequences.
Türkiye expressed deep sorrow Saturday over the devastating floods in Nigeria’s Niger State, which have claimed over 150 lives.
A bridge collapse in the Vygonichsky district of Russia’s Bryansk region, near the Ukrainian border, caused a train derailment and a traffic accident early Sunday, killing at least seven people and leaving 30 injured, according to emergency services.
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