French Minister Advocates for Extension of EU-US Trade Talks
France's finance minister calls for an extension of the trade talks with the US beyond the July 9 deadline.
Paris, France - The French Finance Minister, Eric Lombard, has recently advocated for extending the ongoing EU-US trade negotiations past their current deadline of July 9.
This call comes amid uncertainty regarding the progress of these extensive discussions between two significant trading partners.
The negotiations have been fraught with challenges, including a looming threat from US President Donald Trump to impose higher tariffs on various goods, ranging from automobiles to pharmaceuticals, should an agreement not be reached by the set deadline.European officials have increasingly accepted that a 10 percent 'reciprocal' tariff imposed by Washington in April will likely serve as a baseline component of any final trade deal, according to sources familiar with these negotiations.
Despite this, Lombard remains optimistic about securing a favorable agreement with the US and expressed his preference for an extension over rushing into a potentially suboptimal deal.The sentiment aligns with recent statements from EU leaders, who discussed a new US proposal at a summit earlier this week.
However, the details of this offer have not been disclosed by the European Commission.
French President Emmanuel Macron emphasized that France seeks a swift and pragmatic resolution to these trade negotiations but is unwilling to accept terms that are deemed unbalanced.In exploring potential areas for compromise, Lombard suggested that energy could be an integral part of any final agreement.
Specifically, he envisioned the EU potentially increasing its imports of US gas as a substitute for Russian supplies.
This development could play a pivotal role in reshaping Europe's energy landscape and reducing dependence on Russian natural gas, particularly against the backdrop of ongoing geopolitical tensions.
This call comes amid uncertainty regarding the progress of these extensive discussions between two significant trading partners.
The negotiations have been fraught with challenges, including a looming threat from US President Donald Trump to impose higher tariffs on various goods, ranging from automobiles to pharmaceuticals, should an agreement not be reached by the set deadline.European officials have increasingly accepted that a 10 percent 'reciprocal' tariff imposed by Washington in April will likely serve as a baseline component of any final trade deal, according to sources familiar with these negotiations.
Despite this, Lombard remains optimistic about securing a favorable agreement with the US and expressed his preference for an extension over rushing into a potentially suboptimal deal.The sentiment aligns with recent statements from EU leaders, who discussed a new US proposal at a summit earlier this week.
However, the details of this offer have not been disclosed by the European Commission.
French President Emmanuel Macron emphasized that France seeks a swift and pragmatic resolution to these trade negotiations but is unwilling to accept terms that are deemed unbalanced.In exploring potential areas for compromise, Lombard suggested that energy could be an integral part of any final agreement.
Specifically, he envisioned the EU potentially increasing its imports of US gas as a substitute for Russian supplies.
This development could play a pivotal role in reshaping Europe's energy landscape and reducing dependence on Russian natural gas, particularly against the backdrop of ongoing geopolitical tensions.
