The US president stressed that the main point of friction is fairness, citing obstacles to US auto and agricultural exports.
US President Donald Trump said on Sunday that there was a strong possibility that the United States and the European Union would reach a trade deal. However, he cited three or four main points of friction.
Trump made the comment at the start of a meeting with European Commission President Ursula von der Leyen at his golf course in Turnberry, on the west coast of Scotland.
The US president stressed that the main point of friction is fairness, citing barriers to US auto and agricultural exports.
Negotiations between the technical teams of the EU and the US lasted until late last night, in order to ensure a productive meeting between the two presidents, which is taking place at the luxurious golf course in Turnbury, with the aim of reaching a trade agreement and avoiding 30% tariffs on European imports and corresponding countermeasures from Brussels.
According to a competent European diplomatic source, the ambassadors of the EU member states are currently being briefed on the content of this new round of negotiations, while the Commission President briefed several European leaders yesterday and today, ahead of her meeting with Donald Trump.
The EU's main goal is to reach an agreement on tariffs of around 15% on most European imports to the US, modelled on the agreement signed on Monday between Washington and Tokyo. However, it remains unclear whether the 15% will ultimately apply to imports of European cars or other goods, such as pharmaceuticals.
Donald Trump is already threatening the bloc with 30% tariffs if an agreement is not reached by August 1, while tariffs of 50% on steel and aluminum imports, 25.7% on cars and 10% on other goods are already in place.
For the sake of negotiations, the EU has temporarily suspended countermeasures against the US.
However, on Friday, the US president claimed that there was a 50% chance of reaching an agreement , but acknowledged that the Europeans want to reach an agreement with all their might.
For the successful conclusion of the negotiations between the EU and the US, which last a total of four months, everything will depend on talks at the highest level between Ursula von der Leyen and Donald Trump, according to reliable sources.
In the event, however, that no agreement is reached and the talks fail, the EU has already prepared countermeasures with tariffs on American imports.
The EU member states – with the exception of Hungary – specifically approved, last Thursday, a package of 30% tariffs worth a total of 93 billion euros on imports of American products, which will come into effect immediately on August 7.
Under pressure from several member states, the Commission is also preparing other countermeasures, which would include tariffs on American services, which have a surplus in the EU.
The anti-coercive practice instrument, the strongest measure to limit US companies' access to European public markets, remains on the table. It also foresees additional charges on online advertising revenues for tech giants. This tool has never been implemented by the EU and only needs the approval of a qualified majority of its member states.
