Trump Sets July 4 Deadline for EU Trade Deal Approval to Avoid Higher Tariffs
President Donald Trump has issued a final ultimatum to the European Union, stating that goods from the 27-member bloc will face significantly higher tariff rates if the EU fails to approve a trade framework agreed upon last year by July 4. This announcement, made via social media following a call with European Commission President Ursula von der Leyen, serves as a deadline extension after Trump previously threatened immediate 25% tariffs on EU automobiles. The President expressed frustration over the European Parliament's delay in finalizing the agreement, which originally aimed to reduce EU tariffs to zero. The situation has been further complicated by a recent U.S. Supreme Court ruling that stripped Trump of the legal authority to declare an economic emergency for imposing initial tariffs. Currently, a 10% tariff is in place while the administration investigates trade imbalances. It remains unclear whether the threatened tariff hikes will apply to all EU goods or specifically to autos, but the move signals intense pressure on European lawmakers to ratify the deal before the U.S. Independence Day deadline.
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Trump Sets July 4 Deadline for EU Trade Deal Approval to Avoid Higher Tariffs
President Donald Trump has issued a final ultimatum to the European Union, stating that goods from the 27-member bloc will face significantly higher tariff rates if the EU fails to approve a trade framework agreed upon last year by July 4. This announcement, made via social media following a call with European Commission President Ursula von der Leyen, serves as a deadline extension after Trump previously threatened immediate 25% tariffs on EU automobiles. The President expressed frustration over the European Parliament's delay in finalizing the agreement, which originally aimed to reduce EU tariffs to zero. The situation has been further complicated by a recent U.S. Supreme Court ruling that stripped Trump of the legal authority to declare an economic emergency for imposing initial tariffs. Currently, a 10% tariff is in place while the administration investigates trade imbalances. It remains unclear whether the threatened tariff hikes will apply to all EU goods or specifically to autos, but the move signals intense pressure on European lawmakers to ratify the deal before the U.S. Independence Day deadline.
The Mainichi