President Trump said on Friday that there was a “50/50 chance, perhaps less than that” of his administration concluding a trade agreement with the European Union before an imminent deadline next week.
Mr. Trump, who made the comments before leaving for a Four -day visit to ScotlandCome in front of the White House August 1 To conclude trade agreements with the EU and other nations. If the United States and the EU fail to conclude an agreement, the president threatened to impose a price of 30% on imports from the 27 member countries of the commercial block.
Dozens of other nations are also faced with higher rate rates from August 1, with the exception of those who have already concluded an agreement before the deadline.
The United States has recently announced the contours of commercial transactions with Japan,, ChinaIndonesia, The Philippines,, and the United KingdomAlthough many details remain to be finalized.
European officials have suggested this week that they could be opened at an American basic rate rate of 15%, while indicating that the EU is ready to hit US exports with samples on more than $ 100 billion in American products from August 7 if the two parties do not conclude an agreement.
Commerce experts claim that an US EU agreement could reflect the Trump administration pact this week with Japan, which imposes a 15% tariff on Japanese imports. In return, Japan has undertaken to invest $ 550 billion in the United States and further open its domestic market for American exports, including for cars and certain agricultural products.
The financial markets remained optimistic this week on the threat of prices despite the deadline of the White House for the trade agreements, the American White House indices on Friday.
“This week’s reports suggest that the EU and the United States are about to conclude a trade agreement with a 15% reference rate on American imports,” in Investors Jack Allen-Reynolds, chief economist in the euro area with Capital Economics, told Investors. “It is difficult to run it as a good deal, but it would at least avoid prices and reprisals from the United States much higher in the EU. Consequently, the markets reacted positively.”
contributed to this report.
