Tariff negotiations between the US and the European Union are headed in the “right direction,” EU trade commissioner Maros Sefcovic said after meeting with American officials Wednesday, but added that Washington’s decision to hike tariffs on steel and aluminum to 50% complicated the talks.
With barely a month until the 90-day suspension of US President Donald Trump’s “Liberation Day” tariffs expires, negotiations between the two economies have gained little traction: The EU has threatened retaliation against Trump’s levies, while accelerating trade discussions with China, India, and Thailand.
Meanwhile, the US has intensified its rhetoric on tariffs across the board, with Trump railing against China’s leader over the failure to agree a deal, and officially doubling steel and aluminum tariffs to 50%.
“The tables are sort of turning,” a Bloomberg journalist said, “Trump is either gonna maintain this leverage or it’s gonna slowly slip.”
