The United States is expressing frustration with the European Union over the slow pace of implementing tariff cuts and regulatory changes agreed upon in a trade deal. According to US Trade Representative Jamieson Greer, the EU’s tariffs on US exports remain too high, and regulations continue to hinder market access. The trade agreement, signed in July by European Commission President Ursula von der Leyen and US President Donald Trump, aims to reduce tariffs and increase trade between the two entities.
The deal imposes a 15% tariff on EU exports of cars and most other goods, with the EU committing to purchase $750 billion of US oil and gas and invest $600 billion in the US economy over three years. However, Greer notes that the EU has yet to implement the agreed-upon tariff cuts on US industrial goods, seafood, pork, and some agricultural products. The implementation is pending European Parliament approval, which is unlikely to occur before February.
The US has sent a letter of complaint to Brussels and is preparing a five-point plan in response to the delays. Greer is set to meet with Trade Commissioner Maros Sefcovic later this week, while US Commerce Secretary Howard Lutnick will engage with Sefcovic and EU trade ministers in Brussels on November 24. A Trump administration official warned that the EU risks damaging its relationship with the US if it continues to stall on implementing the agreed-upon changes.
The trade deal was reached after months of intense negotiations and threats of massive tariffs by Trump. The agreement has been criticized by some European officials, who view it as imbalanced. The US has historically had broad access to the EU market, but Greer argues that the reverse is not true, with US exports facing significant barriers. The dispute highlights the ongoing challenges in the trade relationship between the US and the EU, with the US seeking greater access to the European market and the EU working to balance its own economic interests. As the two sides move forward, the implementation of the trade deal will be closely watched, with significant implications for the global economy.
