Yesterday at 22:20
U.S. Secretary of Commerce Howard Lutnick expressed confidence on Sunday that the United States will be able to reach a trade agreement with the European Union.
His statement was cited by Reuters.
Lutnick said he had just spoken by phone with European trade negotiators and that there are “plenty of opportunities” for a deal.
“These are the two largest trading partners in the world negotiating with each other. We will reach an agreement. I’m confident we’ll come to terms,” Lutnick said in an interview with CBS.
On July 12, U.S. President Donald Trump threatened to impose 30% tariffs on imports from Mexico and the European Union starting August 1, after a week of talks failed to produce a comprehensive trade agreement. Lutnick said that this is a firm deadline.
“Nothing is stopping countries from negotiating with us after August 1, but they will begin paying tariffs from August 1,” he said on CBS.
Trump announced the tariff plan in a letter to European Commission President Ursula von der Leyen. He also sent letters to other trade partners, including Mexico, Canada, Japan, and Brazil, setting general tariff rates from 20% to 50%, as well as a 50% tariff on copper.
The EU has stated it is ready to take countermeasures against the U.S. if a fair trade agreement cannot be reached.
Read also: Trump Says Trade Deal with EU Is “Possible,” Though He’s “Indifferent” About It
