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4w ago

EU Trade Chief Meets U.S. Officials in Last-Ditch Effort to Avert Escalating Tariff Battle

Maroš Šefčovič seeks to negotiate reductions in U.S. tariffs as both sides brace for reciprocal measures and economic fallout.

U.S. Commerce Secretary Howard Lutnick speaks to members of the media near the White House in Washington, D.C., U.S., March 13, 2025. REUTERS/Nathan Howard/File Photo

Overview

  • EU Trade Commissioner Maroš Šefčovič is in Washington for high-level talks with U.S. officials, aiming to prevent further tariff escalations.
  • The U.S. has already imposed 25% tariffs on steel and aluminum imports, with additional reciprocal tariffs set to be announced on April 2, dubbed 'Liberation Day' by President Trump.
  • The EU has delayed its retaliatory tariffs on €21.5 billion worth of U.S. goods, including bourbon, to mid-April in hopes of progress in negotiations.
  • Šefčovič has signaled the EU's willingness to discuss reductions in automotive tariffs, but internal divisions persist among EU member states over retaliatory measures.
  • The trade dispute underscores broader tensions in global trade and risks straining economic ties between the EU and the U.S., two of the world's largest trading partners.