Economy
2 days ago

Trump pushes EU to cut tariffs or face extra duties, FT reports

US President Donald Trump attends a Make America Healthy Again (MAHA) Commission event, in the East Room of the White House in Washington, DC, US on May 22, 2025 — Reuters photo
US President Donald Trump attends a Make America Healthy Again (MAHA) Commission event, in the East Room of the White House in Washington, DC, US on May 22, 2025 — Reuters photo

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US President Donald Trump's trade negotiators are pushing the EU to make unilateral tariff reductions on US goods, saying without concessions the bloc will not progress in talks to avoid additional 20 per cent "reciprocal" duties, the Financial Times reported on Friday.

US Trade Representative Jamieson Greer is preparing to tell European Trade Commissioner Maros Sefcovic on Friday that a recent "explanatory note" shared by Brussels for the talks falls short of US expectations, the newspaper said citing unnamed sources.

The FT added that the European Union has been pushing for a jointly agreed framework text for the talks but the two sides remain too far apart.

Reuters was unable to immediately verify the report. The European Commission and Office of the United States Trade Representative did not immediately respond to a Reuters request for comment.

The US imposed 25 per cent tariffs on EU cars, steel and aluminium in March and 20 per cent tariffs on other EU goods in April. It then halved the 20 per cent rate until July 8, setting a 90-day window for talks to reach a more comprehensive tariff deal.

In response, the 27-nation EU suspended its own plans to impose retaliatory tariffs on some US goods and proposed zero duties for all industrial goods on both sides.

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