Background on the Trade Dispute
In the midst of a trade war, the United States has imposed 10% additional tariffs on European products entering the country, with President Trump threatening to raise them to 20%. The European Union (EU) is seeking a resolution to this conflict initiated by Donald Trump.
France’s Economy Minister’s Statements
Eric Lombard, France’s Minister of Economy, stated on Thursday that the EU and the US are “far from an agreement” regarding tariffs. Lombard made these comments in Washington during meetings on the sidelines of the spring meetings of the International Monetary Fund and the World Bank.
He mentioned that he met with Kevin Hassett, the principal economic advisor to the White House, and Howard Lutnick, the Secretary of Commerce, as well as having a ministerial meeting with his US counterpart Scott Bessent.
“I sensed that our interlocutors want to move as quickly as possible,” Lombard opined. He described the Europeans as “friends and allies” in these discussions, cautioning that negotiations would have their “ups and downs.”
EU’s Efforts to Resolve the Trade Conflict
For weeks, the EU has been working to find an exit to this trade conflict sparked since Trump’s return to power. Trump accuses European allies of “stealing” from the US.
Key Questions and Answers
- What is the current state of tariff negotiations between the EU and the US? According to France’s Economy Minister, Eric Lombard, they are “far from an agreement.”
- What tariffs has the US imposed on European products? The US has imposed 10% additional tariffs, with Trump threatening to raise them to 20%. There is also a 25% tariff on steel, aluminum, and vehicles.
- Who has France’s Economy Minister met with regarding these tariffs? Lombard has met with Kevin Hassett, the principal economic advisor to the White House, Howard Lutnick, the Secretary of Commerce, and Scott Bessent, his US counterpart.
- What is the EU’s objective in these tariff negotiations? The EU aims to find a resolution to the trade conflict initiated by Trump, which has led to accusations against European allies of “stealing” from the US.
