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Trump gives EU until July 4 to ratify deal or face tariff hike / Photo: © AFP
Trump gives EU until July 4 to ratify deal or face tariff hike
President Donald Trump on Thursday said the European Union must ratify its trade deal with the United States by July 4 or face "much higher" tariffs, after European officials fell short of agreement on the pact.
Trump said he spoke to EU chief Ursula von der Leyen about the issue and "agreed to give her until our Country's 250th Birthday or, unfortunately, their Tariffs would immediately jump to much higher levels."
The Fourth of July holiday this year marks 250 years since the American colonies declared independence from British rule.
The 27-member EU bloc and the United States struck a deal last July, setting tariffs on most European goods at 15 percent.
But Trump has been dissatisfied at the speed of its implementation.
The situation became more complicated after the US Supreme Court ruled in February that Trump had exceeded his authority in imposing a wide swath of his tariffs, including on the EU.
The Trump administration has since imposed a temporary 10-percent duty, while his administration pursues more lasting ways to rebuild his trade agenda.
But the court ruling did not affect sector-specific tariffs like those on cars, which under the EU agreement had been lowered to 15 percent.
As the deal continues to await signoff by EU member states, Trump vowed last week to raise duties on EU cars and trucks to 25 percent, accusing the bloc of failing to hold up its side of the bargain.
Cyprus, which holds the rotating presidency of the Council of the European Union, said it wanted to maintain "positive momentum" at talks with MEPs on May 19.
"I've been waiting patiently for the EU to fulfill their side of the Historic Trade Deal we agreed in Turnberry, Scotland, the largest Trade Deal, ever!" Trump posted on his Truth Social platform.
"A promise was made that the EU would deliver their side of the Deal and, as per Agreement, cut their Tariffs to ZERO!"
In late March, EU lawmakers gave their green light to the tariff deal with Trump, but they also sought additional safeguards.
Despite conditional approval by the European Parliament, the deal must be negotiated with EU states before it can be implemented by the bloc.
P.Grazvydas--BTZ
