French Economy Minister Eric Lombard stated on April 24 that the European Union (EU) and United States (US) are still far from reaching an agreement on tariffs, as the EU seeks a way out of the trade tensions with Washington.
Former US President Donald Trump imposed a 10% tariff on most of the US’s trading partners, with higher tariffs on imports of steel, aluminum, and the automobile industry.
Although the EU was not exempt from these tariffs, the higher tariffs imposed on EU goods have been suspended for 90 days. However, this suspension is set to expire in early July.
“We will not hide the fact that there is still a long way to go before reaching an agreement,” Lombard said during a press conference on the sidelines of meetings in Washington with the International Monetary Fund (IMF) and World Bank.
However, Lombard mentioned that discussions with US officials had been constructive, noting that he had met with Kevin Hasset, the Director of the White House National Economic Council, Howard Lutnick, the US Secretary of Commerce, and Scott Bessent, the Secretary of the Treasury.
Lombard emphasized that his US counterparts are eager to “move forward as quickly as possible,” adding that Europeans are seen as “friends and allies” in these discussions.
Nevertheless, Lombard anticipated “ups and downs” in the ongoing negotiations.
Trump initially imposed tariffs on steel and aluminum imports from the EU. Later, the European bloc reciprocated with 20% tariffs, affecting most of Washington’s trading partners.
