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EU Likely Won't Receive Tariff Notices from the US, Unlike Japan and South Korea

EU Likely Won't Receive Tariff Notices from the US, Unlike Japan and South Korea Image reproduced from NOWnews 今日新聞

Olof Gill, the trade spokesperson for the European Commission, revealed that the EU is actively striving to reach an agreement with the US and expects not to receive tariff notices like Japan and South Korea. This suggests that the EU's agreement could differ from those of other nations.

President Donald Trump has started to inform countries about new tariff rates and mentioned that negotiations with the EU are going well. Gill stated that the EU is working hard to achieve an agreement within the next two days.

According to reports, the European Commission has submitted a draft agreement to member states, covering major industries such as automobiles, medical devices, and steel, which will involve a basic reciprocal tariff of 10% on nearly all EU exports to the US. The proposal has sparked differing opinions within the EU; some members find it unacceptable, while others believe it is the best achievable outcome at this stage.

Additionally, Ursula von der Leyen, President of the European Commission, stated that the EU will defend its interests and is prepared to retaliate against hundreds of US products if negotiations fail.