US President Donald Trump appears on the day he signs executive orders at the Oval Office at Washington, DC, US, 23 April 2025 at the White House.
Lih Millice | Roots
European officials say they are optimistic that a business deal with US President Donald Trump may be signed, if a compromise does not agree and both Europe and America are warned of significant economic loss when the tariff is introduced on a full scale.
“I am confident that a compromise can be made, but at the same time, I know that we have a lot of tasks to reach the point that we have to reach the point.”
“If we use the time ahead wisely, we can create at least one framework in which we can avoid measures being taken on both sides of Atlantic that can damage ourselves, damage Europe and damage America,” he said on the occasion of International Monetary Fund and World Bank Spring meeting in Washington.
The European Union and America are engaged in stressful talks to reach a business deal so that the US tariffs on the European Union goods declared by Trump, And the European Union’s countercan be avoided.
Trump initially imposed a 20% “mutual” tariff on all the goods coming from the European Union, but stopped measures for 90 days for interactions, by that time reduced duty by 10%. Foreign cars and 25% tariffs on steel and aluminum imports remain in place.
The European Union targeted its retalomist duty to allow time and location for the European Union-US talks, targeting US goods worth 21 billion euros ($ 24.1 billion), ” European Commission said,
The talks have not yet given any concrete agreement or result, European officials sayAnd the background for the possibility of proceeding on Wednesday After the European Union, US Tech Beemoths Apple and Meta fined each of hundreds of crores of euros To dissolve the digital competition laws of the block.
The European Union says that its trade in goods and services with the US is appropriately balanced. Data from European CommissionThe European Union Executive Branch stated that the block had a trade surplus of 155.8 billion euros ($ 176.7 billion) with the US for goods in 2023, but there was a decrease of 104 billion euros on services. Overall, in 2023, the European Union-American trade was priced at 1.6 trillion euros in goods and services, European Union according to the Union,
Machinery and vehicle products create the largest part of the European Union exports in the US by the group, followed by chemicals, other manufactured goods and medicinal and pharmaceutical products.
Spain Finance Minister Carlos Korpo told CNBC that any failure to reach a deal would be harmful to both Europe and America, More than 4 billion euros’ ($ 5.1 billion), goods and services have trading in a day trade.
“We need to engage in an open and clear interaction between the two sides of the Atlantic, because if we do not come in a fair and balanced agreement, there is a lot to lose,” Cuerpo told CNBC’s CNBC’s CANBC’s Caroline Roth in Washington.
He said, “This is a specific figure of 4.5 billion euros on a daily basis in the Atlantic in terms of trade in goods and services – this is a treasure that we need to save,” he said.
“It is (important) how we face these dialogues from the European Union, with an extended hand to reach an agreement. But this must be a proper agreement. Let’s not forget that under the current situation, under the current situation, most of the tariffs imposed by the US administration are already in place and affecting our companies.”
The Netherlands Finance Minister Elco Henon slammed Tariff as a taxation on goods, which is “so bad for consumers” and would be the reason for businesses to stop investment.
Major headwind
On Tuesday, the IMF warned that the Business Tariff announced by President Donald Trump for the US and the global economy in 2025.
In the April 2025 world economic perspective, the IMF estimated the US growth approach of 1.8% in 2025, which is 0.9 percentage points from its January forecast. The fund cut off its global development forecast to 2.8% this year, which is 0.5 percentage points from its previous estimate.
The fund predicted a slight decline in the euro region, estimating that the Euro region GDP will reach 0.8% in 2025, before growing up to 1.2% in 2026 in 2025.
It sang Spain as a bright place in the region, its growth speed “contradicts with dull dynamics,” is expected to expand its economy to 2.5% this year with the Mediterranean nation, which after moving above 0.2 percentage points from the forecast made in January.
“This reflects a large carrot from a better-and-from outstand in 2024 and is a reconstruction activity after floods,” the IMF said.
These were the “reference forecasts” of funds for global economic development and inflation, based on the data available till April 4 – which includes the US “mutual” tariff, but except for later events 90 -day stop at high rates,
– Hakyung Kim of CNBC contributed reporting to this story
