(AFP) – The European Union and United States are far from reaching a deal on tariffs, France’s economy minister said Thursday, as the bloc seeks a way out from trade tensions with Washington. US President Donald Trump has slapped new 10 percent tariffs on most trading partners since returning to the White House in January, and imposed sharp levies on imports of steel, aluminum, and autos. The EU has not been spared, and a 90-day pause on even higher rates, including for goods from the bloc, is due to expire in early July.
“We’re not going to hide the fact that we’re still a long way from an agreement,” said French economy minister Eric Lombard in an interview with journalists on the sidelines of the International Monetary Fund and World Bank’s spring meetings in Washington. But at an IMF event Thursday, German Finance Minister Joerg Kukies said he was hopeful both sides could reach a deal before the 90-day window closed. “We’re optimistic that it will work, the sooner, the better,” he said.
France’s Lombard maintained that talks with US officials were warm. He said he met this week with director of the White House National Economic Council Kevin Hassett, US Commerce Secretary Howard Lutnick, and Treasury Secretary Scott Bessent. Lombard noted a desire from his counterparts to “move forward as quickly as possible,” adding that Europeans have been described as friends and allies in the context of these talks. He said both sides are looking for areas where they can make progress, adding that “workstreams” have been opened up to remove obstacles to exchanges.
Adding that Trump’s new tariffs weigh on the US economy, Lombard said he hopes these effects “will push the administration to propose adjustments.” “We want tariffs to return to previous levels, and even lower if possible,” he said, adding that he expects “ups and downs” in negotiations. Earlier this year, Trump accused the 27-nation bloc of being created to “screw” the United States. The White House has also said Trump’s “reciprocal tariffs” were focused on countries that had been “ripping off” the world’s biggest economy.
© 2024 AFP
