EU warns of risk of trade deal collapse with US over new demands
Kyiv • UNN
The European Commission warned of the risk of agreements collapsing due to amendments regarding the duration of the agreement. The document provides for a 15% tariff on most EU goods.
The European Union has warned member states that attempts to tighten the terms of a trade agreement with the United States could lead to its collapse. This is reported by Bloomberg, citing sources familiar with the negotiations, writes UNN.
Details
According to the sources, the European Commission informed EU ambassadors this week that some of the amendments proposed by European lawmakers could effectively derail the agreement.
This refers, in particular, to provisions that provide for the postponement of the agreement's implementation until the full fulfillment of US obligations, as well as the establishment of an end date for its validity – March 2028, unless the parties agree to an extension.
Earlier, the European Parliament delayed the ratification of the agreement after the US Supreme Court's decisions on Donald Trump's tariff policy and his statements about the possible annexation of Greenland.
Agreement parameters
The trade agreement, concluded last summer, provides for the introduction of a 15% tariff on most EU goods exported to the US, while abolishing tariffs on a significant portion of American exports to the EU.
Separately, the US maintains 50% tariffs on steel and aluminum imports from the EU, as well as a 15% tariff on cars within the framework of sectoral agreements.
Further negotiations
EU Trade Minister Maroš Šefčovič is expected to discuss the terms of the agreement in Washington with US officials, including the Trade Representative and the US Treasury Secretary.
The European Commission does not officially comment on the situation.