A trade agreement between the US and the European Union could fall through due to customs tariffs on agricultural products and cars. This was reported by Bloomberg, citing "people familiar with the matter," informs UNN.
Details
It is noted that the parties plan to conclude a preliminary trade agreement in the coming days. At the same time, the EU proposes to limit tariffs on agricultural exports to 10%, while the US insists on flexibility in tariff policy.
Another stumbling block between Washington and Brussels currently remains car tariffs.
A compensation mechanism, which some car manufacturers promoted as a way to provide companies with tariff benefits in exchange for investments in the US, is currently not being considered due to EU fears that it could shift production across the Atlantic
The publication's sources also noted that negotiations and any potential agreement could be derailed by US President Donald Trump, who has not yet publicly commented on the discussed agreements.
"Any deal will depend on Trump's decision," the media quotes one of the interlocutors.
Recall
On Tuesday, the head of the Eurogroup of finance ministers, Paschal Donohoe, stated that an agreement between the EU and the US on customs tariffs is unlikely to be concluded in the coming days. According to him, "negotiations are still ongoing, and we have not yet reached the point where an agreement has been concluded."
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