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The EU has offered the U.S. a €50B trade deal in response to Trump’s pending 10% tariffs on EU goods. The trade offer aims to increase imports of American goods and ease the transatlantic trade deficit. The drama from the Trump tariffs is still ongoing, and the EU is now pushing for what it considers a fair and balanced deal before July, when the tariffs will take effect. The EU’s strategic offer According to Maroš Šefčovič, the EU’s trade commissioner, the European Union is proposing a €50B increase in purchases of U.S. goods. The €50B investment is aimed at easing the growing trade tensions with Washington. Šefčovič told the Financial Times that the EU is making “certain progress” in its negotiations with the U.S. The EU however made it clear that it will not accept the 10% tariff recently imposed by President Donald Trump as a fair outcome. The proposal will also help to close what the U.S. perceives as a €50B trade deficit with Europe. Šefčovič stated this trade gap could be quickly closed if Europe increased its imports of American goods such as its liquefied natural gas (LNG), soybeans, and other agricultural products. “If what we are looking at as a problem in the deficit is €50B, I believe that we can really solve this problem very quickly,” he said. The bloc has been working to prevent a full-blown transatlantic trade war since Trump’s announcement of a 10% tariff on most countries on April 2. The U.S. government also proposed a 20% “reciprocal” tariff for the EU. The extra 20% tariffs were eventually suspended to allow 90 days for negotiation, but the initial 10% tariff remains in place, and further duties could be added on in July if no agreement is reached between the nations. Šefčovič explained that…

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Filed under: News - @ May 1, 2025 11:24 pm