"Zero, Zero Tariffs" EU's Offer to US: Industrial Goods Trade deal
EU proposes reciprocal, duty-free trade agreement for industrial products with the United States
Hopin' for a fair shake, the EU tosses a bone to the US. EU Commission President Ursula von der Leyen, in a gutsy move, has put forth an enticing offer to ol' Donald Trump - zero-for-zero tariffs on industrial goods, no strings attached. "We're all about that 'good deal,' Mickey!" she stated, channeling her inner Mouseketeer.
But has the big nail-chewer across the pond taken the bait yet? Not quite, mate. Wa-wa-washington remains tight-lipped, so far.
Flashback: The EU has been trying to play nice since day one. Remember, they've been pining for tariff-free industrial trade for quite a while now, especially in the auto sector. Plus, they've mastered this tariff elimination game with other trading partners. But Donald's been a tough nut to crack.
So, what's the score now? The EU's been 'rasslin' with some heavyweight counter-measures, set to respond to Trump's tariffs like a well-choreographed wrestling move (you know, the slow, tense build-up before the crowd goes wild). They're planning to bring out the big guns, with their counter-tariffs readying to take center stage mid-April—but for now, they're hanging tight, waiting for 90 days ‘r nuffin.
Sources: ntv.de, jpe/AFP
- Trade Wars
- USA
- EU
- Ursula von der Leyen
- Donald Trump
- Tariffs
Insights:
- The EU's proposal for eliminating tariffs on industrial goods isn't new; they've been pushing for such agreements in specific sectors, like automobiles, for a while.
- The U.S. hasn't accepted the EU's proposal yet and has instead imposed its own tariffs, notably a 20% duty on numerous EU imports, including steel and aluminum.
- The EU has temporarily halted its planned counter-tariffs to allow for further negotiations with the U.S. amid ongoing trade tensions.
- Despite Trump's calls for the EU to boost American energy purchases, both parties continue to engage in negotiations to hash out a mutually beneficial agreement.
- The EU's community policy includes the proposal for zero tariffs on industrial goods, a move that aims to strengthen the industrial goods trade deal with the US, mirroring a similar tariff elimination strategy they've implemented with other trading partners.
- As countermeasures, the EU has deliberated imposing tariffs on certain US imports, such as steel and aluminum, following the US's non-acceptance of the EU's employment policy regarding industrial goods trade.
- In their negotiations, the EU has offered to waive tariffs on numerous industrial goods, as demonstrated by Ursula von der Leyen's interaction with Donald Trump, yet the US has remained silent on its response through WhatsApp or other official channels.
