financetom
Business
financetom
/
Business
/
EU says it will make strong case for US tariff cuts this week
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
EU says it will make strong case for US tariff cuts this week
Jun 2, 2025 5:26 AM

BRUSSELS (Reuters) -The European Commission said on Monday it would make a strong case this week for the United States to reduce or eliminate tariffs even after Donald Trump said he would double import duties on steel and aluminium to 50%.

European Trade Commissioner Maros Sefcovic will meet U.S. Trade Representative Jamieson Greer at an OECD gathering in Paris on Wednesday, while Commission technical teams will be in discussions with counterparts in Washington this week.

The Commission, which oversees trade policy for the 27-nation European Union, said it was prioritising negotiations to resolve the conflict.

"We don't want to go down the route of tariffs. Rather than have them increase, we want them to decrease and where possible eliminate them," a Commission spokesperson told a press conference on Monday.

"That remains the case, that remains our priority. We will be making that case strongly both at technical level and at political level this week."

The EU has said it strongly regrets the planned doubling of steel tariffs.

The EU currently faces 25% tariffs on steel and cars and for Trump and "reciprocal" tariffs on most EU goods, which were provisionally set at 20% for the EU but is being held at 10% during a 90-day pause until July.

The EU imposed, but immediately suspended, a first set of counter tariffs on 21 billion euros ($24 billion) of annual U.S. imports package in response to U.S. metals duties.

It is also weighing a response to the U.S. car and broader tariffs that would hit up to 95 billion euros of U.S. imports.

The Commission said that, in the absence of a mutually acceptable solution, these countermeasures would take effect automatically on July 14, or earlier if circumstances require.

($1 = 0.8759 euros)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
SUD Fully Acquires COCOS
SUD Fully Acquires COCOS
Nov 11, 2025
BEIJING, Nov. 11, 2025 /PRNewswire/ -- SUD, the world's largest GI (Gamification Interactive) platform, announced the full acquisition of COCOS, the world's largest lightweight general-purpose game engine, for USD 72 million. COCOS' business and its team will be deeply integrated into SUD. The global traffic advantages of SUD GI Cloud and SUD GI AD will comprehensively empower COCOS' developer ecosystem. SUD...
Analysis-Big tech stops complaining, starts complying with Australia's teen social media ban
Analysis-Big tech stops complaining, starts complying with Australia's teen social media ban
Nov 11, 2025
SYDNEY (Reuters) -Online platforms will ping Australian teenagers through over a million accounts in coming days offering a choice: download data, freeze profiles or lose the lot when a world-first ban on kids using social media starts on December 10. TikTok, Snapchat and Meta's Facebook, Instagram and Threads are poised to deactivate accounts registered by users under 16, five people...
Eli Lilly drops CVS drug plan for workers after Novo obesity deal, Bloomberg News reports
Eli Lilly drops CVS drug plan for workers after Novo obesity deal, Bloomberg News reports
Nov 11, 2025
Nov 11 (Reuters) - Eli Lilly ( LLY ) is dropping CVS Health's ( CVS ) drug benefit plan for its employees after CVS stopped covering its weight-loss drug in favor of a rival medication from Novo Nordisk, Bloomberg News reported on Tuesday, citing people familiar with the matter. Beginning on January 1, Lilly employees covered by the company's medical...
Why Did Salarius (SLRX) Shares Soar Over 23% After-Hours?
Why Did Salarius (SLRX) Shares Soar Over 23% After-Hours?
Nov 11, 2025
Salarius Pharmaceuticals Inc. ( SLRX ) shares surged 23.65% in after-hours trading on Tuesday, closing at $1.21. The Houston-based biopharmaceutical company's stock jumped after it released pricing details for its underwritten public offering. Check out the current price of SLRX stock here. According to Benzinga Pro data, the stock dropped 51% in the regular trading session to close Tuesday at...
Copyright 2023-2025 - www.financetom.com All Rights Reserved