"Donald Trump's threat to impose fresh tariffs on eight European countries UK, Norway and six EU member states is a wrecking ball to the carefully stitched deals he concluded with those countries last summer. The two biggest voting blocs in the European parliament, the European People's Party (EPP) and the Socialists & Democrats (S&Ds), said on Saturday night the deal with the EU cannot be approved in the present circumstances."
"The EU-US trade deal was agreed under considerable pressure from Trump at his Scottish golf course last July. However, while it has entered into force in the US, the 0% tariffs promised to the US have yet to be legally ratified in the EU. The EPP is in favour of the EU-US trade deal, but given Donald Trump's threats regarding Greenland, approval is not possible at this stage, said Manfred Weber, the leader of the EPP."
"The UK's trade deal, as it was described last May, is already in force, but applies to a limited number of products cars, beef, aerospace, ethanol and steel with a 10% tariff deal on other exports ranging from salmon to bone china. Both the EU and the UK are in the middle of sensitive negotiations to reduce tariffs Trump has already imposed, particularly on steel, which are rated at 25% for British exports and 50% for EU products."
Donald Trump threatened fresh tariffs on eight European countries — the UK, Norway and six EU member states — jeopardizing deals reached last summer. The European People's Party and the Socialists & Democrats announced the EU–US deal cannot be approved under these circumstances. EU trade agreements are conducted centrally through Brussels, and the US side has implemented the deal while EU legal ratification remains pending. Manfred Weber said 0% tariffs must be put on hold because of threats over Greenland. Renew joined efforts to halt ratification. The UK deal covers limited products and broader tariff negotiations on steel and other goods continue.
Read at www.theguardian.com
Unable to calculate read time
Collection
[
|
...
]