Brussels. Beef by the new tariff policy of the United States, the European Union (EU) initiated a process of diversification of its commercial associations, with eyes put in countries of Asia or the South American Mercosur block.
The European Council reported Friday that prepares a summit with China for the second half of July. As a result of that approach, the Chinese president, Xi Jinping, said that China and the EU must assume their international responsibilities, and protect economic globalization together
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The European Union is among the largest business partners in the United States, the commercial exchange reached in 2023 the equivalent of 1.8 billion dollars.
Europe continues to focus on diversifying its commercial associations, committing to countries that represent 87 percent of world trade and share our commitment to a free and open exchange of goods, services and ideas
the EU announced this week. However, Varg Folkman, an expert from the European Policy Center, said The modification on routes and commercial flows will take time. It is not something that can happen from one day to another
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Difficult to log 90 agreements in 90 days
The administration of President Donald Trump wants to reach 90 trade agreements in 90 days, but the challenges of quickly resolving the president’s trade war are already evident.
The Chief of Commerce of the European Union, Maros Sefcovic, will be Monday among the first foreign trade officials who will go to Washington to urgently negotiate on the strong tariffs Trump announced on April 2.
But when Sefcovic arrives, Trump’s main tariff negotiator, the secretary of the Treasury, Scott Besent, will be in Buenos Aires to show his support for the economic reforms of Argentina, despite the fact that this country represents just 16 thousand 300 million dollars in total annual trade with the United States.
The absence of Besent on Monday highlights the doubts of trade experts about the efficacy with which the government can manage so many simultaneous negotiations and the prospects of reaching 90 agreements in 90 days, a deadline that Trump gave this week, by pausing the application of tariffs announced on April 2, after the financial markets went to pique for fear of a recession already the recession, among other factors.