Trump Tariffs: EU Orders Meeting With US To Forge Trade Agreement
The European Union (EU) has consented to engage in discuss the articulation of a trade deal with the United States (US) over the impending 50% Trump tariffs on EU goods. Following complaints by Trump, the EU was perceived to be stalling on a counter deal for these harsh tariffs.
In truth social he posted that the EU has contacted his office to try and “rapidly set up post to establish meeting dates.” He seems to think optimistically that the EU will be like china and start trading fairly. he also states that both parties will be “very happy and successful” if the deal succeeds.
The announcement came just days after Trump postponed the 50% July tariff deadline change from June 1 to July 9. He backed his statement by claiming that the tariffs had been paying off as the EU had been “slow walking” talks. He again went on to state American supremacy by claiming that he will use his power to enforce the trade deal if Chad is not given some good terms on the table.
Bessent, the US Treasury Secretary, supported Trump’s view accusing the EU of lacking good faith negotiation skills. He noted the progress the US is making with other nations, including India. The US CoinGape newspaper hinted that both the US and India are likely to sign a trade deal in a week’s time to ward off Trump’s looming 26% tariffs. Other Asian countries also appear to be moving forward in the negotiations.
The upcoming EU-US meeting has caused an unmistakable shift in the financial markets, particularly in the crypto industry. Investors have been waiting for the announcement of the mandatory 50% tariffs which resulted in plummeting price of cryptocurrencies. Now that negotiations are on offer, investor outlook is positive.
Ethereum has markedly increased over the past week but Bitcoin’s steep increase over the last day, which now resides above the crucial $110,000, indicates a new wave of market optimism.
The EU-US trade talks seem to have the most impact on setting global trade deals as well as shaping the future financial markets and even digital currencies. It appears that the two strong economic powers are trying to level with each other in order to avoid a trade conflict.
