EU reports limited progress in tariff negotiations with the US

There are currently no signs that the tariff feud between Europe and the US will be called off.

According to the EU, there is little progress in the negotiations and the union therefore predicts that the tariffs will stay, Bloomberg News writes, citing unnamed sources with knowledge of the ongoing negotiations.

EU trade chief Maros Sefcovic has met with members of President Donald Trump’s administration in Washington, where a two-hour meeting was held. This has not led to any confidence that the high tariffs will be dropped when the current tariff pause expires.

Trump announced 20% tariffs against the EU on his self-proclaimed liberation day on April 2 this year. Here he unveiled his tariff plans against the entire world. However, parts of the plan have since been put on hold and the individual tariffs have been replaced by flat 10% tariffs against most countries. China is the exception, with a tariff of 145%, which China has reciprocated with a tariff of 125%.