The president of the United States, Donald Trump, observes the day he signs executive orders at the Oval Office of the White House in Washington, DC, USA, April 23, 2025.
Leah Millis | Reuters
European officials say that they are optimistic that a commercial agreement can be reached with the president of the United States, Donald Trump, warning of significant economic damage both for Europe and the United States if an Aalreement is not agreed and large -scale tariffs are introduced.
“I think you can reach an agreement, but at the same time, I know we have a lot of work we have to do to reach that point,” said Pascal Donohoe, president of the Minister of Eurogroup and Finance of Ireland.
“If we use the time that is coming wisely, at least we can create a framework in which we can prevent the measures from being tasks on both sides of the Atlantic that could Hardelves, damage to Europe and damage the United States,” he said outside the international monetary.
The European Union and the United States are involved in tense negotiations to reach a commercial agreement so that US tariffs on EU assets announced by Trump and EU’s countermeasures can be declared.
Trump’s initial imposed a “reciprocal” rate of 20% in all EU assets stopped the measures for 90 days for negotiations, reducing duty to 10% until that moment. It remains a 25% tariff in foreign cars and imports of steel and aluminum.
The EU stopped its duty of retaliation that eliminated 21 billion euros ($ 24.1 billion) of American goods “to allow the time and space for the negotiations of the EU-EE. UU.”, Said the European Commission.
The conversations have not yet yielded any tangible commitment or results, the European officials say, and the backdrop of the discussions probably further cracks on Wednesday after the EU US technology warned Apple and Meta Hededs or Eurosts of euros.
The EU insists that her trade in goods and services with the US is reasonably balanced. The data of the European Commission, the EU executive arm, said the block had a commercial surplus or 155.8 billion euros ($ 176.7 billion) with the USA. For goods in 2023, but had a deficit of 104 billion euros in the services. In general, the EU-US goods and services in 2023 by value was 1.6 billion euros, according to the EU.
The machinery and vehicles constitute the part of the EU exports to the US for the product group, followed by chemicals, other manufactured products and medicinal and pharmaceutical products.
The Minister of Finance of Spain, Carlos Body, told CNBC that any inability to reach a harmful agreement for both Europe and the United States, with more than 4 billion euros ($ 5.1 billion) in commerce of goods and services per day at stake.
“We need to start an open and frank conversation between the two sides of the Atlantic, because there is much to lose if we do not reach a fair and balanced agreement,” Body told Carolin Roth of CNBC in Washington.
“There is this specific figure, or 4.5 billion euros in a basic daily throughout the Atlantic in terms of trade of goods and services, which is a treasure that we need to protect,” he said.
“Is [important] How we face thesis negotiations on the EU side, with an extended hand, to reach an agreement. But it has to be a fair agreement. Let’s not forget that under the current situation, most tariffs imposed by the administration of the United States are already in place and affect our companies. “
Eelco Heinen, Minister of Finance of the Netherlands, criticized tariffs as a property tax that is “so bad for consumers” and would make companies pause investment.
Great winds against
On Tuesday, the IMF had warned that the commercial tariffs announced by President Donald Trump represent important winds against the United States and the global economy in 2025.
In April 2025 World Economic Outlook., The IMF predicted a growth perspective of the United States or 1.8% in 2025, 0.9 percentage points less than its January forecast. The fund also reduced its global growth forecast to 2.8% this year, less 0.5 percentage points of its previous estimate.
The fund predicted a slight decrease in the euro zone, predicting that the GDP of the euro area will reach 0.8% in 2025, before collecting fashion at 1.2% in 2026.
Spain pointed out as a brilliant point in the region, stating that its growth impulse “contrasts with the slow dynamic of Aliso”, with the Mediterranean nation expanding its economy by 2.5% this year after an ascending review or 0.2.
“This reflects a great drag of the most anticipated effects in 2024 and the reconstruction activity after flooding,” said the IMF.
These were the “reference forecasts” funds for global economic growth and inflation, which are based on available data such as or April 4, including “reciprocal” tariffs of the United States, but excluding subsequent doping such as 90 -day rates.
– Hakyung Kim from CNBC contributed to inform this story