Negotiators from the European Union and the United States met in Paris to discuss a tense tariff dispute, reporting progress but no major breakthroughs. Maroš Šefčovič (EU) and Jamieson Greer (US) discussed the US trade deficit with the EU, Trump's tariffs on steel and imported cars, and the EU's proposed 'zero for zero' deal. The EU is preparing countermeasures if negotiations fail, while the US remains focused on its grievances regarding trade practices like the EU's 10% car tax and VATs.
EU and US negotiators meet in Paris for tariff talks
EuropeDonald TrumpEuropean UnionParisInternational tradeBusiness ownershipTariffs and global tradeEurocopa 2024Auto industryPoliticsInternational agreementsLaurent Saint-MartinGreta PeischEconomic policyGovernment policyWilliam ReinschMaros SefcovicTaxesBusiness
AI Summary
TL;DR: Key points with love ❤️Negotiators from the European Union and the United States met in Paris to discuss a tense tariff dispute, reporting progress but no major breakthroughs. Maroš Šefčovič (EU) and Jamieson Greer (US) discussed the US trade deficit with the EU, Trump's tariffs on steel and imported cars, and the EU's proposed 'zero for zero' deal. The EU is preparing countermeasures if negotiations fail, while the US remains focused on its grievances regarding trade practices like the EU's 10% car tax and VATs.
Trending- 1 Last year: US trade deficit with the European Union was a record $161 billion
- 2 Last week: Trump administration imposed surprise tariffs on steel
- 3 Monday (current week): EU announced it is preparing 'countermeasures' against the U.S.
- 4 Wednesday (current week): EU and US negotiators met in Paris on the sidelines of an OECD meeting
- 5 Coming days and weeks: Continued constructive engagement, technical meetings in Washington, video conference between Šefčovič and Greer
- Potential for continued trade tensions and tariffs between the EU and US
- Economic ramifications for global markets
- Ongoing negotiations to find a resolution to the tariff dispute
What: EU and US negotiators met to discuss and resolve a tense tariff dispute.
When: Wednesday (meeting), last week (Trump's steel tariffs), Monday (EU preparing countermeasures), last year (record US trade deficit with EU).
Where: Paris, France (meeting location), Washington, D.C. (technical meetings).
Why: To settle a tariff spat with worldwide economic ramifications, address the US trade deficit with the EU, and resolve disputes over trade practices and tariffs.
How: Top trade negotiators met on the sidelines of an OECD meeting, with ongoing technical meetings and future video conferences planned. The EU has proposed a 'zero for zero' deal, while the US has imposed tariffs and seeks changes to EU trade practices.