EU 'Fully Committed' To US Trade Deal As Trump Threatens 50% Tariffs
Economists and market analysts have also criticised the unpredictability of US trade policies, noting that such volatility undermines confidence in the US as a reliable trading partner.
Brussels, May 27 (IANS) The European Commission remains "fully committed" to reaching a trade deal with the United States amid tariff twists, according to a senior European Union (EU) official.
In a Monday post on social media platform X, European Commissioner for Trade and Economic Security Maros Sefcovic wrote: "The European Commission remains fully committed to constructive and focused efforts at pace towards an EU-US deal," adding that Brussels would continue to stay in constant contact with Washington.
His remarks followed his calls with US Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer, Xinhua news agency reported.
On Friday, US President Donald Trump said talks with the 27-member bloc were "going nowhere" and threatened to impose a 50 per cent tariff on all EU imports from June 1.
Trump was upset by the lack of progress in trade talks with the EU, which has proposed mutually cutting tariffs to zero even as the President has publicly insisted on preserving a baseline 10 per cent tax on most imports.
"Our discussions with them are going nowhere!" Trump posted on Truth Social.
European Commission President Ursula von der Leyen phoned Trump on Sunday, after which he agreed to postpone the planned tariff increase until July 9.
Economists and market analysts have also criticised the unpredictability of US trade policies, noting that such volatility undermines confidence in the US as a reliable trading partner.
(This report has been published as part of the auto-generated syndicate wire feed. Apart from the headline, no editing has been done in the copy by ABP Live.)
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