President Donald Trump on Wednesday indicated he favours imposing import tariffs to protect the US auto industry, which was rocked by this week's announcement of job cuts at General Motors. In two tweets, the president said that extending tariffs already in place for foreign-built small trucks to the car sector would help domestic manufacturers.
Brazil's Foreign Minister Aloysio Nunes said he expects more movement from the European Union as long running talks on a free trade deal with his South American bloc Mercosur head into the home stretch.
A free trade agreement between the European Union and Mercosur is close to being concluded, with a final push over the line seen by early September, Argentina’s foreign minister said on Thursday. Negotiations between the EU and the Mercosur group of Argentina, Brazil, Paraguay and Uruguay, the world’s fourth largest trading bloc, have been going on for almost 20 years.
Mercosur and the European Union begin a fresh round of trade talks this week with renewed optimism that negotiators may be nearing an accord after almost 20 years of talks. Since trade negotiations with the United States were frozen after Donald Trump's 2016 presidential election victory, the European Union has turned its focus to other large economies and has already struck agreements with Japan and Mexico.
Motorbikes, whiskey and T-shirts are among the US goods that could be hit by EU taxes if the US imposes import tariffs on steel and aluminum. The EU has drawn up a target list of 100 US goods worth €2.8bn (US$3.5bn), the BBC understands.
A long-awaited major trade deal between the EU and Mercosur may this week take a key step towards realization with ministerial teams from both sides meeting in Brussels on Monday. They are expected to give negotiators a new, decisive political impulse to reach agreement in a matter of weeks, according to Irish sources.
The European Union and Chile have started negotiations in Brussels for the renewal of the Association Agreement. The first round was held in November and the Commission subsequently launched a consultation aimed at the sectors affected in order to find out their opinions on the issue. This process is planned to conclude on 19 February.
Negotiations for a trade deal between the European Union and Mercosur will extend into next year, officials from both sides said on Wednesday, after the Europeans asked for more time to analyze proposed changes.
The talks between the European Union and Mercosur will likely extend into next year after European negotiators said they needed more time to respond to improved offers, a source from Mercosur negotiators said on Tuesday.
The European Union and Japan have concluded negotiations on a giant free trade deal that they said was reached while “fighting the temptation of protectionism”, a message apparently directed at U.S. President Donald Trump. The deal, which the EU called its biggest ever, must be signed and ratified by both sides.