The United States and the European Union still need a lot of work to reach a deal that would prevent the imposition of tariffs on each other's goods, EU Economic Commissioner Valdis Dombrovskis said on Friday.
The U.S. imposed 25% tariffs on EU cars, steel and aluminium in March and 20% tariffs on other EU goods in April. It then halved the 20% rate until July 8, setting a 90-day window for talks to reach a more comprehensive tariff deal.
In response, the EU suspended its own tariffs on some U.S. goods and proposed zero tariffs for all industrial goods on both sides. Dombrovskis said the zero-tariff offer met with only moderate U.S. interest.
"There's a lot of work ahead to come to more concrete parameters and elements and areas of cooperation which would allow us to avoid the implementation of tariffs," Dombrovskis said on the sidelines of the International Monetary Fund meetings in Washington.
The U.S. imposed 25% tariffs on EU cars, steel and aluminium in March and 20% tariffs on other EU goods in April. It then halved the 20% rate until July 8, setting a 90-day window for talks to reach a more comprehensive tariff deal.
In response, the EU suspended its own tariffs on some U.S. goods and proposed zero tariffs for all industrial goods on both sides. Dombrovskis said the zero-tariff offer met with only moderate U.S. interest.
"There's a lot of work ahead to come to more concrete parameters and elements and areas of cooperation which would allow us to avoid the implementation of tariffs," Dombrovskis said on the sidelines of the International Monetary Fund meetings in Washington.
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