Following a phone call with European Commission President Ursula von der Leyen, Trump said he would give the European Union until July 4 — the anniversary of the founding of the United States — and warned that tariffs would be significantly increased if no progress is made by then.
Von der Leyen stated that the European Union has made progress in negotiations with the United States aimed at reducing tariffs, adding that both sides remain committed to implementing the previously reached trade agreement.
Under the agreement, the United States is expected to impose a 15% tariff on exports from the EU, while Trump had previously suggested that tariffs on European products could reach as high as 30%.
The trade agreement reached in July last year had failed to advance in the implementation stage due to delays in the approval process within the European Parliament.
Meanwhile, a U.S. trade court ruled that Trump’s 10% global tariffs were not sufficiently justified under trade law, a decision that could pave the way for future legal challenges against the measures.
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