Trump says EU has until July 4 to approve trade deal
AP News • • nation
Key Points:
- President Donald Trump announced that if the European Union does not approve last year’s trade framework by July 4, U.S. tariffs on EU goods will increase, extending a previous deadline related to auto tariffs.
- Trump expressed frustration that the European Parliament has not finalized the trade deal, which was complicated by a U.S. Supreme Court ruling limiting his authority to impose initial tariffs.
- The original trade framework called for a 15% tariff on most EU goods, but the administration has currently imposed a 10% tariff while investigating trade and security concerns.
- The latest announcement suggests Trump may be giving the EU more time to approve the deal, potentially softening his earlier threat of an immediate 25% tariff on EU autos.
- It remains unclear whether any tariff increases after July 4 would apply broadly to all EU goods or specifically to autos.
