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Summary
EU Commission President Ursula von der Leyen offered a “zero-for-zero” deal to eliminate all industrial tariffs with the U.S., following Trump’s 20% tariff hike on EU goods.
The offer revives a proposal from a decade ago that was nearly finalized under the TTIP — the Transatlantic Trade and Investment Partnership — that was ultimately scuppered by Trump in his first term.
The deal would cover cars, chemicals, and other industrial goods. Trump’s tariffs have rattled global markets, with EU stocks seeing their steepest drop since COVID-19.
The EU warned it is also ready with countermeasures if negotiations fail.
I wouldn’t be so categorical. Negotiation require some level of flexibility.
If the Americans fail to act in a good faith manner, you can always implement reciprocal tariffs later on.
That’s the thing. They’re not saying they’re stopping the retaliatory tariffs. They’re still going to implement them, but they’re giving Trump an out (which he won’t take)
Yep this will make Trump look like an even bigger idiot, because he wont agree. So not a bad move at all probably.
Americans already failed to act in a good faith by applying tariffs without negotiations or anything. What EU is doing right now is caving to Orange bully instead of standing up. As we always do.
While I am rather sceptical of EU’s negotiation approach (I am from Ukraine so I have real life experience with Merkel and russia), with this particular case I think it makes sense to give it just but more time.
Since you’re from Ukraine then you certainly also think that we shall give Putin more time, right? :-) You freaking don’t turn the other cheek to bullies, it doesn’t work, except it encourages them to do more of the same… 🤷♂️
I admit being a little too extreme, but what makes them think USA could ever act in good faith at this point?
Fair point.
I don’t actually think US will act in good faith. While there are a lot of sane Americans, IMO they lack gumption and risk-tolerance to address corruption and degeneracy in their society. I genuinely hope I am seriously wrong on this, but we’ll see.