When asked by journalists prior to his meeting with Ursula Von der Leyen about the possibility of the European Union benefiting from tariffs below 15%, Donald Trump was unequivocal: “No,” he stated firmly.
The U.S. President also indicated that pharmaceuticals “will not be included” in the agreement and expressed hope for resolving “some issues” during his meeting today with the European Commission President.
Both agreed that the prospect of reaching a trade agreement is now “50-50.”
“In an hour we will know,” said Trump, alongside Von der Leyen, in a brief joint press conference before the meeting at Trump’s golf resort in Turnberry, southeastern Scotland.
As he has asserted for months, the U.S. President emphasized that obtaining a “fair” agreement is crucial, as he believes his country is at a trade disadvantage.
“There are three or four friction points. I’d prefer not to discuss them. We will address them. But I think the main obstacle is fairness,” he explained, adding that his country has faced “very tough times” with the EU in terms of trade. “And I would like to see them resolved,” he added.
Von der Leyen also concurred with the prospects of reaching an agreement, highlighting the significant importance of an accord between the U.S. and the EU, “the two largest economies in the world.”
“If we look at our markets, it’s a huge market: 800 million people, including the U.S. and the EU. Therefore, I look forward to the opportunity to work with you,” she said.
Donald Trump plans to impose tariffs of 30% on European products, setting August 1 as the deadline for these tariffs to take effect.
However, according to diplomatic sources, both parties are moving towards a possible compromise of a 15% rate on European products, similar to the agreement reached this week between the U.S. and Japan.
The U.S. Secretary of Commerce has already warned today that the set deadline is to be upheld. “No extensions, no more delays. On August 1, the tariffs will be set in place,” stated Howard Lutnick on Fox News Sunday.
