The European Union braces for extra U.S. price lists in spite of talks

The European Union is making ready for extra price lists from the United States, in spite of conversations with the U.S. President Donald Trump’s management previous this week.

It’s been an intense back-and-forth during the last few months, with Trump accusing the EU of being some of the worst culprits in its business remedy of the U.S.

Tensions had been heating in fresh weeks. With its metal and aluminum matter to Washington’s broader price lists, the EU retaliated with tasks price greater than 20 billion euros on U.S. items. These countermeasures had been then placed on hang for 90 days, after Trump additionally paused a 2nd spherical of price lists on EU items for a similar duration.

“As advocated from day one, we prefer negotiations to tariffs, which are damaging to our respective economies, business operators and consumers,” Olof Gill, business spokesperson for the European Commission, the manager arm of the EU, stated in a file shared with CNBC after the assembly between White House and EU officers.

The EU’s best business reputable Maros Sefcovic met U.S. Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer on April 14, however their conversations perceived to have led to little development.

“It is clear that significant joint efforts will be needed to achieve a successful outcome within the 90-day window,” Gill stated. “The EU is doing its part. Now, it is necessary for the US to define its position. As with every negotiation, this must be a two-way street.”

President Trump this week reiterated his view that he’s now not happy with the EU on business.

“The European Union has taken terrible advantage, they don’t take our food products, they don’t take our cars,” he stated.

The United States has additional dialed up drive at the EU this week by means of saying investigations into imports of prescription drugs and semiconductors, which, Trump says, may just result in new levies in opposition to those sectors.

“This had been expected,” the EU’s Gill stated, including that Europeans have made “a strong case” in opposition to price lists in those spaces.

“The Commission also continues with our preparatory work on additional countermeasures, should the negotiations fail to result in a successful outcome. And everything remains on the table.”

The EU’s best exporting merchandise into the USA are medicinal and pharmaceutical items, street cars, and equipment.

The EU had a business surplus with the U.S. totaling 48 billion euros in 2023, consistent with information from the European Union. This may also be damaged right into a surplus of 157 billion euros in items and a deficit of 109 billion euros in services and products.