European officials warn more work to reach a commercial deal with us

European officials say a trade agreement with US President Donald Trump can be reached, warning against significant economic harm to both Europe and the United States if an agreement is not agreed and a full tariff.

“I think an agreement can be reached, but at the same time, I know that we have a lot of work that we have to do in order to reach this point,” Pascal Donoho, the head of the euro group in Ireland, told CNBC on Wednesday.

“If we use the next time wisely, we can at least create a framework through which we can avoid the measures that are taken on both sides of the Atlantic Ocean that can harm ourselves and harm America,” he said on the sidelines of the International Monetary Fund and the Rabia meetings for the World Bank in Washington.

The European Union and the United States are participating in tense negotiations to reach a commercial deal to introduce the US tariff for the European Union goods announced by Trump, And the anti -European Union measuresIt can be avoided.

Trump initially imposed a 20 % “mutual” tariff on all goods coming from the European Union, but it stopped the 90 -day measures for negotiations, which led to a reduction in the duty to 10 % until that time. It is still 25 % tariff on foreign cars, steel and aluminum.

The European Union has stopped its retaliatory duty, which targeted 21 billion euros (24.1 billion dollars) of American goods “to provide time and space for negotiations in the European Union and the United States”, ” The European Commission said.

The talks have not yet resulted in any concrete concessions or results, European officials sayAnd the background for discussions is likely to be tense on Wednesday After the fine of the European Union on Apple and Meta technology clients for hundreds of euros each To violate the digital competition laws of the bloc.

The European Union insists that its trade in goods and services with the United States is reasonably balanced. Data from the European CommissionThe executive arm of the European Union said that the bloc has a trade surplus of 155.8 billion euros (176.7 billion dollars) with the United States for goods in 2023, but it was a deficit of 104 billion euros on services. In general, the European Union trade and the United States in goods and services in 2023 was 1.6 trillion euros, According to the European Union.

Machines and vehicles are the largest part of the European Union exports to the United States by the product group, followed by chemicals, other manufactured goods, medical and pharmaceutical products.

The Minister of Finance of Spain Carlos CNBC CNBC said that any failure to reach an agreement would be harmful to Europe and the United States, With more than 4 billion euros ($ 5.1 billion) of trade in goods and services per day at stake.

“We need to participate in an open and frank conversation between both sides of the Atlantic Ocean, because there is a lot to lose if we do not reach a fair and balanced agreement,” CNBC told CNBC in CNBC in Washington.

“There is this specified number, which is 4.5 billion euros on a daily basis across the Atlantic Ocean in terms of trade in goods and services – this is a treasure that we need to protect,” he pointed out.

“It is important to face these negotiations by the European Union, with an extended hand, to reach an agreement. But it must be a fair agreement. Let us not forget that in light of the current situation, most of the definitions imposed by the American administration are already present and affect our companies.”

Eelco Heinen, Minister of Finance of the Netherlands, photographed customs duties as a tax on goods that are “very bad for consumers” and will cause companies to stop investing.

These were the “reference expectations” of the Fund for global economic growth and inflation, which depends on the available data from April 4 – including mutual definitions in the United States “, but with the exception of subsequent developments such as Stop for 90 days at higher rates.

– Hakyung Kim from CNBC contributed to reports to this story