U.S., EU say trade talks are heading in the right direction

The U.S. trade representative on Wednesday said trade talks with the European Union are “advancing quickly” as President Trump seeks deals on multiple fronts ahead of a self-imposed July deadline to negotiate tariff levels.

Trade Representative Jamieson Greer said his Paris meeting with EU Trade Commissioner Maroš Šefčovič was “very constructive and indicates a willingness by the EU to work with us to find a concrete way forward to achieve reciprocal trade.” 

“I look forward to continued constructive engagement in the coming days and weeks,” he said.

The U.S. is negotiating with dozens of trade partners after Mr. Trump announced, then paused, hefty tariffs on countries that sell plenty of products to American consumers but don’t buy nearly as much from U.S. producers.

The EU is a frequent punching bag for Mr. Trump, who says it was formed in part to “screw” the U.S. economically and that it sends cars and other goods to U.S. markets but doesn’t let in enough American products.

Mr. Trump proposed a 20% tariff on EU goods during his April “Liberation Day” event. He recently threatened to raise that to 50%, saying it would spur the Europeans to the negotiating table.

The EU says it is open to lowering tariffs and negotiating on other trade barriers, but sticking points remain.

Mr. Šefčovič told reporters that talks were headed in the “right direction” but that increased tariffs on steel and aluminum hurt the negotiations. Mr. Trump doubled tariffs on imported metals from 25% to 50% on Wednesday, angering the EU, which has threatened countermeasures if the talks don’t produce a deal.

While the U.S. steel industry praised the move, the National Foreign Trade Council said increased levies could jeopardize negotiations with other countries.

“At a time when the administration has been prioritizing new trade deals and stabilizing economic relations with major trading partners, this is a step in the wrong direction,” NFTC President Jake Colvin said. 

The EU talks are a marquee part of the administration’s multi-front negotiations on trade. 

Mr. Trump is seeking a call with Chinese President Xi Jinping to settle differences between the world’s largest economies, though said in a Truth Social post that it is “extremely hard” to strike a deal with Mr. Xi.

The administration is racing against a July 8 deadline to settle trade talks with other nations.

The administration sent a letter to trading partners this week urging them to send their “best offers” on tariff levels and trade issues before the midsummer deadline.  Otherwise, the U.S. might simply set tariff levels for other countries. Otherwise, it might simply set tariff levels for other countries.

So far, the U.S. has only delivered a trade deal in principle with the U.K.