French Minister: EU and US, far from reaching tariff agreement

The European Union and the United States are still far away from reaching a tariff agreement, French Economy Minister said on 24 April, as the bloc is aiming to find an escape from trade tensions with Washington.

US President Donald Trump has imposed 10 per cent tariffs on most business partners and has imposed higher rates on steel, aluminum and automobile industry imports, Periscope notes.

The EU has not been spared the tariffs, but the highest tariffs imposed on the bloc's goods have been suspended for 90 days. But this suspension will expire in early July.

“We will not hide the fact that there are still many roads to reaching a” agreement, said French Economy Minister Eric Lombard, during a campaign for journalists at the Washington meeting margins of the International Monetary Fund and World Bank.

However, he said talks with American officials were good.

He said that during this week he met with White House National Economic Council Director Kevin Hasset, US Trade Secretary Howard Lutnick, and Treasury Director Scott Bessent.

Lombard stressed that his counterparts want “to move forward as soon as possible”, adding that Europeans have been described as friends and allies in the context of these talks.

But, Lombard said he expects <x0UL and upgrade” in the sides' negotiations.

Trump has initially imposed tariffs on EU steel and aluminum imports. Later, the European bloc was part of Trump's mutual tariffs, at 20 percent. These mutual fees hit most of Washington's business partners. /REL