The EU has insisted that “a deal is a deal” after threats from US President Donald Trump to unilaterally hike tariff rates on European automotive exports into the US, despite a trade agreement negotiated last summer.
EU figures hit back at Trump’s threats – made as the White House expressed its displeasure over Europe’s refusal to back US military action in the Middle East – saying they would be prepared for any eventuality.
In Chartered Institute of Export & International Trade news, business leader and former minister Baroness Neville-Rolfe DBE CMG has been appointed as the organisation’s new President.
Trump makes more threats
The EU has insisted that the US stick to its word on last year’s trade deal, even as US President Donald Trump ramps up measures against Europe over its criticism of the US’ campaign in Iran.
Over the last few days, Trump has withdrawn 5,000 troops and several long-range missiles from Germany and threatened new tariffs on EU automobile exports, despite a trade deal agreed in August which is currently being ratified by EU institutions.
On Friday night (1 May), Trump said on social media that the US would “be increasing Tariffs charged to the EU for Cars and Trucks coming into the US.
“The Tariff will be increased to 25%”
He said the measures were a result of the EU not “complying with our fully agreed to Trade Deal.”
European Commission (EC) officials said they remained committed to implementing the EU-US trade deal, agreed to last summer.
"A deal is a deal, and we have a deal. And the essence of this deal is prosperity, common rules and reliability," EC President Ursula von der Leyen today at the European Political Community (EPC) in Armenia, adding that the EU was “prepared for every scenario”.
“It’s not the first time we have seen threats,” EC spokesperson Thomas Regnier told Politico yesterday (4 May).
“We remain very calm, focused on enforcing the recurrent statements.”
EC trade commissioner, Maroš Šefčovič, is expected to stick to the “deal is a deal” line when he meets US trade representative Jamieson Greer later today in Paris to discuss increasing trade tensions.
The deal, known formally as the Agreement on Reciprocal, Fair, and Balanced Trade, was approved by the European Parliament in March. However, EU member states still need to individually agree to it at a meeting held tomorrow.
Ahead of the meeting, the European Automobile Manufacturers’ Association (ACEA) called for the EU to “conclude negotiations as swiftly as possible.”
UK-EU joint relationship
At the EPC yesterday (4 May), the spectre of Trump hung over talks between European leaders, including UK prime minister Sir Keir Starmer and his EU counterparts.
The US’ attitude towards European security was the “elephant in the room,” French President Emmanuel Macron said during the meeting, as reported by the BBC, as EU officials made comments on bolstering their own defence.
The EPC summit also included talks on the UK’s plan to participate in the EU’s £78bn loan for Ukraine. Downing Street said that this would be a “major step forward” in the joint UK-EU defence relationship and would underline the UK’s continued support for Ukraine’s war efforts against Russia.
In a statement, Downing Street said that it had commenced negotiations on the UK joining the European Innovation Council Fund, which could unlock support for high-growth tech businesses.
New President of the Chartered Institute
The Chartered Institute is pleased to announce that Baroness Neville-Rolfe DBE CMG has been appointed as its new President.
Her career spans senior roles in both the public and private sectors, including leadership positions at Tesco plc and extensive ministerial experience in the UK government. She served in departments including the Treasury, the Department for Culture, Media and Sport, the Department for Business, Energy and Industrial Strategy, and most recently as minister of state at the Cabinet Office.
Baroness Neville-Rolfe said:
“I am honoured to take on the role of President of the Chartered Institute at such an important moment for UK trade.
"The Chartered Institute plays a vital role in equipping businesses with the skills, knowledge and confidence they need to succeed internationally. I look forward to working with members and partners to support exporters and promote free and fair trade across the globe.”
Lord Green of Hurstpierpoint announced his intention to step down as President at the Chartered Institute’s annual general meeting in November.
Other news
- The ceasefire between the US and Iran has held firm, despite reports of missile strikes on the UAE and attacks on commercial shipping
- The EU’s top diplomatic civil service, Belén Martínez Carbonell, has said she intends to leave her role
- The UK has announced a raft of new sanctions on Russian drone production and on Moscow’s human trafficking networks
