Tariffs, EU willing to accept 10% tariffs but aims at exemptions. Rollins: thank you Italy for mediation
Canada lifts digital tax on US companies over Trump deal. In the UK, reduced tariffs on exports to the US take effect from today
3' min read
3' min read
The tariffs front between the big world economies is rekindled, as Washington tries to recalibrate its trade relations under the new Trump administration.
The EU is willing to accept a trade deal with the US that includes a universal 10% tariff on many of its exports, but wants the US to commit to lower rates on key sectors such as pharmaceuticals, alcohol, semiconductors and commercial aircraft. The Bloomberg news agency reports this, citing sources who say the EU is also pushing the US to introduce quotas and exemptions to reduce Washington's 25 per cent tariffs on cars and auto parts, as well as the 50 per cent tariff on steel and aluminium.
"The 9 July deadline is important and we are grateful to Italy for its mediating role with the European Union," US agriculture secretary Brooke Rollins said at a press conference after a meeting in Washington with Agriculture Secretary Francesco Lollobrigida on tariffs. Donald Trump 'is super focused on rebalancing global trade. And the agricultural industry will benefit the most because it exports more than any other sector. The agreements will support our farms," added the secretary, who recalled her recent visit to Rome. "Speaking with representatives of the industry, I clearly understood that we need to work more together to open markets for our producers," she said.
Canada-US: talks restart, stop digital services tax
Canada has announced the suspension of the digital services tax (DST) for American big tech companies - including Alphabet, Meta and Amazon - in an attempt to restart trade talks with Washington. The deal, confirmed by the Canadian Ministry of Finance, comes after weeks of tensions that culminated with the announcement of new tariffs coming from the US side.
Canadian Prime Minister Mark Carney and President Donald Trump agreed to formally resume negotiations with the goal of reaching an agreement by 21 July. The tax, introduced last year at a 3% rate, would have resulted in an estimated C$5.9 billion outlay by US companies over five years, and risked provoking heavy retaliation.
