Posted on 07/23/2025 10:03:52 AM PDT by MinorityRepublican
The EU and US are closing in on a trade deal that would impose 15 per cent tariffs on European imports, similar to the agreement Donald Trump struck with Japan this week.
Brussels could agree to the so-called reciprocal levies to avoid the US president’s threat to raise them to 30 per cent from August 1, three people familiar with the situation told the Financial Times.
"The Japan agreement made clear the terms of the shakedown,” said one EU diplomat. “Most member states are holding their noses and could take this deal.”
Both sides would waive tariffs on some products, including aircraft, spirits and medical devices, the people said.
The European Commission, which runs EU trade policy, briefed envoys from member states on Wednesday following talks with US counterparts.
News of the prospective deal boosted the euro, which recouped earlier losses to trade flat on the day against the dollar. US stocks extended gains, with the S&P 500 up 0.6 per cent.
The EU’s exporters have been paying an additional 10 per cent tariff on goods sent to the US since April while talks between Washington and Brussels continued. That was on top of pre-existing duties averaging 4.8 per cent.
(Excerpt) Read more at ft.com ...
The Marshall Plan, EU/Common Market, VATs, UN, and NATO have been shakedowns, this isn’t even payback.
A “shake down” doesn’t apply to unfair trade taxes between countries. The writer of the article needs to do their research before using such adjectives. BTW, a tariff is a tax and with Europe the U.S. is also charged a VAT tax.
These articles are usually one sided.
How much tariff is to be placed on US exports by the EU? Particularly LNG?
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