emirates7 - The European Union is exploring a potential resolution to its ongoing trade tensions with the United States by offering to boost imports of American goods valued at €50 billion.
European Commissioner for Trade Maroš Šefčovič outlined the proposal in a recent interview, suggesting that increasing purchases of products like natural gas and soybeans could help correct the trade imbalance between the two sides.
The EU is currently in talks with the U.S. government to eliminate tariffs introduced by former President Donald Trump, which include a 25% levy on cars, aluminium, and steel, along with a 10% tariff on other goods.
While the U.S. claims that Europe maintains a substantial trade surplus—reportedly worth several hundred billion dollars—the EU contends that the gap is much smaller, closer to €50 billion, when trade in services is included in the calculation.
European Commissioner for Trade Maroš Šefčovič outlined the proposal in a recent interview, suggesting that increasing purchases of products like natural gas and soybeans could help correct the trade imbalance between the two sides.
The EU is currently in talks with the U.S. government to eliminate tariffs introduced by former President Donald Trump, which include a 25% levy on cars, aluminium, and steel, along with a 10% tariff on other goods.
While the U.S. claims that Europe maintains a substantial trade surplus—reportedly worth several hundred billion dollars—the EU contends that the gap is much smaller, closer to €50 billion, when trade in services is included in the calculation.