European Union Trade Commissioner Marus Sevkovic said in an interview with US President Donald Trump: Financial times Publishing Thursday.
Sepkovic, who leads negotiations with the American administration, said that “a certain progress” was scored, but the European Union will not accept the US tariff by 10 percent of the European Union goods.
Sivkovic said that once American services are taken into account, the 27 -countries trade deficit in the European Union is about 50 billion euros (56 billion dollars) annually.
“If what we look as a problem in the deficit is 50 billion euros, I think we can really … solve this problem very quickly through the purchases of liquefied natural gas (LNG), through some agricultural products such as soybeans or other areas,” said Commissioner at FT.
Trump said that the deficit is several hundreds of billions annually and imposed a 25 percent tariff on cars of manufacture, aluminum and steel. Other goods have a 10 percent tariff.
The US President was originally imposing a 20 percent tariff on the European Union commodities, but this was suspended until July and negotiators are now seeking to avoid a full trade war on the definitions if this level enters into force.
Sivkovic said that even the main tariff by 10 percent will be a “very high” level that the European Union could not accept.
The Commissioner said that although the two sides had a greater understanding of the position of the other, it will remain “very difficult” to reach a good and clear deal for our member states and our European parliament. “
This story was originally shown on Fortune.com
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