Trump gives EU until 4 July to ratify trade deal or face ‘much higher’ tariffs
Summary
President Donald Trump said the European Union (EU) must approve a trade deal with the US by July 4 or face higher taxes on their goods. The EU and US agreed last year to reduce tariffs on many products, but the deal still needs final approval from EU member states.Key Facts
- President Trump gave the EU a deadline of July 4 to ratify the trade deal.
- If the EU misses this deadline, Trump threatens to raise tariffs on EU goods, especially cars and trucks, to 25%.
- The trade deal was announced last July and sets tariffs on most European goods at 15%.
- The EU has made some progress but has not completed the approval process for the deal.
- The US Supreme Court ruled in February that Trump exceeded his authority on some tariffs, leading to temporary 10% duties instead.
- The EU parliament approved the deal in March but added conditions requiring further talks with EU member states.
- Cyprus currently holds the rotating presidency of the EU and supports continuing talks to approve the deal.
- President Trump insists the EU promised to lower tariffs to zero as part of the “largest trade deal ever” agreed in Scotland last year.
Read the Full Article
This is a fact-based summary from The Actual News. Click below to read the complete story directly from the original source.