Trump, European Commission and US
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US president Donald Trump will hold talks with the European Commission president Ursula von der Leyen in Scotland
The European Union is heading towards a trade deal with Washington that would result in a broad 15% tariff on EU goods imported into the U.S., avoiding a harsher 30% levy slated to be implemented from August 1,
The European Union and the US are progressing toward an agreement that would set a 15% tariff for most imports, according to diplomats briefed on the negotiations.
Negotiations between the EU and the United States to strike a last-minute trade deal are "ongoing," European Commission President Ursula von der Leyen said on Thursday, with only eight days to go before new US tariffs on the bloc take effect.
European Commission President Ursula von der Leyen will meet U.S. President Donald Trump on Sunday in Scotland after EU officials and diplomats said they expected to reach a framework trade deal this weekend.
At present, there are no tariffs on either sector while the US holds an investigation on national security grounds into imports of those goods. However, indications are that the investigation may result in the EU seeing a 15% tariff imposed on both pharmaceuticals and computer chips once the process concludes.
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Indonesia rushing to complete trade deals with Europe, Canada as a hedge against looming US tariff
Deals under discussion with EU and Eurasian groupings as US set to impose 19 per cent tariff from Aug 1. Read more at straitstimes.com. Read more at straitstimes.com.
The European Union plans to quickly hit the US with 30% tariffs on some €100 billion ($117 billion) worth of goods in the event of no deal and if US President Donald Trump carries through with his threat to impose that rate on most of the bloc’s exports after Aug.
Gold prices extended losses on Wednesday following reports that the U.S. and European Union were closing in on a 15% tariff deal, dampening safe-haven demand, while silver earlier surged to its highest level since September 2011.
President Donald Trump on Friday said there is a “50-50 chance” the United States will reach a trade agreement with the European Union to reduce tariffs, even as EU diplomats have signalled greater optimism about striking a deal before the August 1 deadline.
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