Trump says EU not offering ‘fair deal’ on trade

[WASHINGTON] US President Donald Trump said on Tuesday (Jun 17) that the European Union had yet to offer a “fair deal” on trade, as Washington negotiates tariff agreements with friends and foes alike.

“We’re talking but I don’t feel that they’re offering a fair deal yet,” Trump said of the EU, speaking to reporters on board Air Force One before arriving back in the US from a G7 summit in Canada.

“And we’re either going to make a good deal or they’ll just pay whatever we say they will pay.”

Shortly after taking office, Trump upended the global economic order by accusing the US’ trading partners of unfair practices and slapping huge tariffs on almost all countries.

Trump imposed a blanket 10 per cent tariff on most US trading partners and unveiled higher individual rates on dozens of economies including India and the European Union – although he swiftly paused the elevated rates.

While negotiations have been ongoing, the pause on those higher duties is due to expire on Jul 9.

The US president also imposed additional sector-specific levies on cars, steel, and aluminum, that have hit many US trading partners hard, including the EU.

World leaders at the Group of Seven summit in Canada on Monday pushed Trump to back away from his punishing trade war, arguing that it posed a risk to global economic stability.

A day earlier, EU Commission chief Ursula von der Leyen called on G7 leaders to avoid protectionist trade policies.

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“Let us keep trade between us fair, predictable and open. All of us need to avoid protectionism,” von der Leyen said at a press briefing.

The US president left the G7 talks early, citing the crisis in between Iran and Israel, and was back in Washington on Tuesday morning. AFP