Pressure Mounts Ahead of Tariff Suspension Expiry
The Donald Trump administration, which is currently engaged in trade negotiations with the European Union (EU), has reportedly threatened to impose a 17% tariff on European agricultural products.
On July 4 (local time), the British daily Financial Times (FT) and The Guardian, citing multiple sources, reported that Maros Sefcovic, the EU Commissioner for Trade and Economic Security, received this warning from the U.S. side during a meeting held in Washington the previous day.
The meeting was reportedly attended by U.S. Treasury Secretary Scott Besant, U.S. Trade Representative Jamison Greer, and Secretary of Commerce Howard Lutnick.
The news that the U.S. side mentioned the possibility of imposing a 17% tariff on European agricultural products was also shared with ambassadors from the 27 EU member states the following day. As of 2024, the EU's agricultural exports to the U.S. amounted to $48 billion (approximately 65.5 trillion won).
FT stated, "It is unclear whether the 17% tariff on food products mentioned by the U.S. side would be in addition to other tariffs previously announced by President Trump, or if it would replace existing tariffs."
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