President Trump said that his administration on Friday is “50/50 a chance, perhaps less than that”, which is making a trade deal with the European Union before a spectacular time limit next week.
Mr. Trump, who commented before leaving for one Four day visit to ScotlandComes ahead of the White House August 1 time limit For trade agreements with the European Union and other nations. If the US and the European Unions fail to reach a deal, the President has threatened to impose 30% tariffs on imports from 27 member countries of the trading block.
Dozens of other countries also faced high tariff rates starting from August 1, except for those who have already made a deal before the deadline.
America has recently announced the outline of trade deals With japan, ChinaIndonesia, Philippines And UKHowever, with several details, it is still being finalized.
European authorities suggested this week that they could open up to 15% of the US baseline tariff rate, indicating that the European Union has prepared American exports to hit with a levy over US goods over $ 100 billion. Starting from August 7, if both sides fail to make a deal.
Business experts say that a US-EU agreement may reflect the Pact of the Trump administration with Japan this week, which imposes 15% tariff on Japanese imports. In turn, Japan has committed to invest $ 550 billion in the US and open its domestic market for American exports, including cars and some agricultural products.
The financial markets about the threat of tariff despite the time limit for the White House trade deals remain the Sangin this week, prominently prominently with the US index on Friday.
“This week’s reports show that this week’s reports show that the European Union and the US are on the verge of agreeing to a business deal with 15% baseline tariff on the European Union and America US imports,” told in a research note, “Capital Economics Deputy Chief Eurozone Economics “It is difficult to spin it as a good deal, but it at least avoids a lot of American tariffs and vengeance from the European Union. As a result, the markets have given positive response.”
Contributed to this report.
