Treasury Secretary Scott Bessent mentioned Friday he hopes a brand new tariff risk from President Trump would pace alongside talks with the European Union (EU) concerning a brand new commerce deal.
In a Friday interview with Fox Information, Bessent accused the EU of not partaking in “good faith” commerce negotiations with the White Home. His remarks got here hours after Trump mentioned he would impose a 50 % baseline import tax on European items.
“I believe the president believes that the EU. proposals have not been of the same quality that we’ve seen from our other important trading partners,” Bessent mentioned on Fox Information’ “America’s Newsroom.”
“I’m not going to negotiate on T.V., but I would hope that this would light a fire under the EU.”
Trump threatened early Friday morning to impose the 50 % tariffs on the EU by June 1, giving European leaders barely per week to strike a cope with the White Home.
Trump and his financial group are trying to strike new commerce offers with greater than a dozen main buying and selling companions earlier than July, when his steep “Liberation Day” tariffs are set to return into impact.
The president introduced April 2 steep new tariffs on items from practically each overseas nation, with charges ranging above 100% for sure merchandise. After weeks of insisting the tariffs would keep in place, Trump later suspended the brand new import taxes for 90 days to provide nations time to barter higher commerce phrases.
The EU is one among 18 main buying and selling companions the U.S. has prioritized in commerce talks. Trump introduced earlier this month a non-binding settlement with the U.Okay., one of many few nations that imports extra from the U.S. than it exports to the states.
Bessent and U.S. Commerce Consultant Jamieson Greer additionally struck a brief settlement to cut back tariffs on Chinese language items with officers from Beijing as Trump makes an attempt to barter a method out of his commerce battle with China.
