Trump threatens EU if no trade deal is signed by new deadline
CNBC • • nation
Key Points:
- President Donald Trump has set a July 4 deadline for the European Union to ratify a trade agreement with the U.S., warning that tariffs on EU imports could rise significantly if the bloc fails to comply.
- Trump accused the EU of not fulfilling its commitment to reduce tariffs to zero as agreed in a deal made last July in Scotland, and threatened to increase tariffs on cars and trucks to 25%.
- During a call with European Commission President Ursula von der Leyen, both leaders agreed that Iran must never acquire a nuclear weapon, alongside discussions on the trade deal.
- The European Parliament's chief trade negotiator, Bernd Lange, acknowledged progress in talks to eliminate EU tariffs on U.S. goods but noted that further work is needed, with the next negotiation round scheduled for May 10.
- U.S. Trade Representative Jamieson Greer expressed confidence that the EU will honor its commitments under the July 2023 trade agreement.
