US president’s July 9 deadline looms amid fears over the ‘most important commercial relationship in the world’
US president Donald Trump with first lady Melania Trump. Photo: AP
The EU expects to find out today whether US president Donald Trump will impose punishing tariffs on America’s largest trade partner, in a move economists have warned would have repercussions for companies and consumers on both sides of the Atlantic.
Mr Trump imposed a 20pc import tax on all EU-made products in early April as part of a set of tariffs targeting countries with which the US has a trade imbalance. Hours after the nation-specific duties took effect, he put them on hold until July 9 at a standard rate of 10pc to quiet financial markets and allow time for negotiations.
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