Trump, Tariff and Trade Deal
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Trump has periodically railed against the European Union saying it was 'formed to screw the United States' on trade.
A threatened 30% tariff on European wines would hurt many U.S. companies while hiking prices at home and in restaurants, industry experts warn.
The United States and the European Union agreed to a 15 percent base tariff after weeks of negotiations, which were among the Trump administration’s most difficult discussions.
The EU is ready to counter with tariffs on $140 billion worth of US goods if no deal is reached. Read more at straitstimes.com. Read more at straitstimes.com.
President Trump plans to impose 30% tariffs on EU imports starting August 1, prompting French dairy leaders to warn of 'disastrous' impacts on their exports.
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European leaders and business groups said Trump's plan to put 30% tariffs on its goods would raise prices and in some cases act as an embargo on certain goods.
US President Donald Trump and EU chief Ursula von der Leyen prepared to meet Sunday in Scotland in a push to resolve a months-long transatlantic trade standoff that is going
April 9: Trump's higher "reciprocal tariffs" begin just after midnight. Hours later, the president says he is issuing a 90-day pause on those duties, except for China. Trump raises tariffs on Chinese goods from 104% to 145%, the highest rate so far this year.
Confident that his right-wing populist policies would help win him favor with Trump’s administration, Orbán said in an interview in April that while tariffs “will be a disadvantage,” his government was negotiating “other economic agreements and issues that will offset them.”
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GlobalData on MSNEU wine “concerned” about Trump tariffs threat but optimistic of dealThe EU wine sector is "extremely concerned" about President Trump's threat of a 30% US tariff on goods from the bloc but remains optimistic a deal will be reached. Over the weekend, Trump shared a copy of a letter on Truth Social sent to EU Commission president Ursula von der Leyen threatening a 30% tariff on EU goods from 1 August.
Economists had already downgraded growth for the European Union, and the new duties would hit industries there especially hard. Companies are looking for ways to blunt the impact.