EU-US Trade Agreement Nears Completion as Negotiations Progress
EU trade commissioner Olof Gill provided a brief update on the ongoing discussions with the US:
“The EU remains in close discussions with the US at both technical and political levels, and beyond that, I have no further details at this time.”
He went on to say:
“Regarding the potential agreement, we believe a resolution is achievable, and we are making every effort to ensure progress for the benefit of EU citizens, businesses, and consumers.”
No additional specifics about the possible deal were disclosed.
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Ireland Gains Exemptions in EU Trade Countermeasures Against US
Ireland has negotiated crucial exceptions should the EU impose retaliation measures against US tariffs if trade negotiations fail.
Deputy Prime Minister Simon Harris announced on Thursday that imports of thoroughbred horses have been excluded from the list. This protects Ireland’s high-value equine industry, which includes internationally recognized breeding facilities attracting animals from around the world.
Following Irish advocacy, sugar, molasses, and chocolate have also been removed from the retaliation list.
Harris stated that half of the trade-sensitive goods Ireland sought to exclude had been successfully withdrawn.
The European Council’s trade committee is set to vote on retaliatory tariffs worth €93 billion. Harris reaffirmed support for the European Commission, which is moving toward establishing a baseline tariff of 15%.
In a statement, he remarked:
“Though we have secured key concessions for Ireland after extensive discussions with the European Commission, these countermeasures, if enacted, would still negatively impact European and Irish businesses. However, while we hope such actions are unnecessary, the EU must be prepared for all scenarios and negotiate from a position of strength.”
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EU and US Close to Deal Implementing 15% Tariffs on Imports
Reports indicate that the EU and US are close to finalizing a trade arrangement that would introduce 15% tariffs on most imports from the bloc.
This rate matches an agreement recently reached between the US and Japan.
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