A spokesperson for the European Commission said on Monday that the European Union’s zero-for-zero proposal is still on the table in tariff talks with the U.S. The spokesperson added that EU Trade Commissioner Maros Sefcovic will have a call with U.S. Commerce Secretary Howard Lutnick on Monday afternoon. The spokesperson acknowledged that the phone call between European Commission President Ursula von der Leyen and U.S. President Donald Trump has given “new impetus” to trade talks. The EU revealed that it offered the U.S. a zero-for-zero tariff deal on cars and industrial goods weeks before Trump launched his trade war. EU maintains zero-tariff offer open in U.S. negotiations Europe is ready to negotiate with the US. We have offered zero-for-zero tariffs for industrial goods. Because we're always ready for a good deal. But we’re also prepared to respond with countermeasures. And protect ourselves against indirect effects through trade diversion. pic.twitter.com/hpZ77TXH4B — Ursula von der Leyen (@vonderleyen) April 7, 2025 The EU’s commissioner for trade, Maros Sefcovic, said last month he had proposed zero tariffs on cars and a range of industrial goods, such as pharmaceutical products, rubber, and machinery, during his first meeting with Lutnick on February 19. Leyen also acknowledged that the EU had offered zero-for-zero tariffs for industrial goods, and that offer remained on the table. The EU shared a revised paper with the U.S. on May 13, including proposals on international labor rights, environmental standards, economic security, and gradually reducing tariffs to zero on both sides for non-sensitive agricultural products. The bloc’s proposal also outlined mutual investments and strategic procurement in energy, artificial intelligence, and digital connectivity. The proposal added areas for cooperation on mutual challenges, such as export controls and investment screenings and combating overcapacity in steel, pharmaceutical, automotive, and semiconductor supply chains. The paper also includes global competition faced by the civilian aircraft industry and a joint market for critical raw materials. The 27-nation bloc revealed plans to hit 95 billion euros ($108 billion) of U.S. exports with additional tariffs in response to Trump’s reciprocal levies and 25% tariffs on cars and some parts, should negotiations fail to achieve a satisfactory outcome. The EU had previously agreed to delay for 90 days the implementation of a separate set of retaliatory tariffs against the U.S. over the 25% levies Trump imposed on the bloc’s steel and aluminum exports. Last week, the president highlighted that he would continue with plans to target semiconductors and pharmaceutical imports. He also threatened action on movies and aircraft parts. Trump delays EU tariff hike following call with EU President Good call with @POTUS . The EU and US share the world’s most consequential and close trade relationship. Europe is ready to advance talks swiftly and decisively. To reach a good deal, we would need the time until July 9. — Ursula von der Leyen (@vonderleyen) May 25, 2025 President Trump reversed course Sunday evening on his threats to impose huge tariffs on the EU following talks with the bloc’s head. He agreed to delay new tariff implementations from the June 1 deadline for a 50% tariff on the European Union to at least July 9. The U.S. President noted that European Commission President Ursula von der Leyen expressed a strong desire to engage in serious negotiations. Trump added that he had been urging the EU to return to the table and noted that von der Leyen committed to acting quickly to resolve the dispute. “I received a call today from Ursula von der Leyen, President of the European Commission, requesting an extension on the June 1st deadline on the 50% Tariff with respect to Trade and the European Union. I agreed to the extension – July 9, 2025 – it was my privilege to do so. The Commission President said that talks will begin rapidly.” – Donald Trump , the U.S. President. Trump said on Friday that he wanted 50% levies on the EU while expressing frustrations that trade talks with the bloc were not moving quickly enough. He told reporters in Morristown, New Jersey, that “July 9 would be the day” before adding that both parties will get together to see if they could work something out. Commerzbank currency strategist Micheal Pfister believes a deal with the European Union may be reached by July 9. He also argued that it is questionable what changed in terms of the fundamental problems following the phone call. KEY Difference Wire : the secret tool crypto projects use to get guaranteed media coverage
Asian Stocks Market Today is Down Slide
