The Japan Times - Trump gives EU until July 4 to ratify deal or face tariff hike

EUR -
AED 4.201562
AFN 74.363816
ALL 93.809877
AMD 418.418452
ANG 2.048329
AOA 1050.247424
ARS 1701.785117
AUD 1.645775
AWG 2.062169
AZN 1.941874
BAM 1.956014
BBD 2.301042
BDT 140.80544
BGN 1.934469
BHD 0.43103
BIF 3403.988146
BMD 1.14406
BND 1.478075
BOB 7.921284
BRL 5.853926
BSD 1.14252
BTN 108.914803
BWP 15.514633
BYN 3.26533
BYR 22423.584889
BZD 2.297641
CAD 1.620242
CDF 2581.00012
CHF 0.920414
CLF 0.026955
CLP 1060.875571
CNY 7.771431
CNH 7.759636
COP 3778.385494
CRC 519.736549
CUC 1.14406
CUP 30.317602
CVE 110.269863
CZK 24.249621
DJF 203.44142
DKK 7.475137
DOP 67.174724
DZD 152.297113
EGP 56.756727
ERN 17.160907
ETB 184.392267
FJD 2.554343
FKP 0.856285
GBP 0.851804
GEL 3.020344
GGP 0.856285
GHS 13.051576
GIP 0.856285
GMD 83.516375
GNF 10020.054971
GTQ 8.716384
GYD 238.979339
HKD 8.967775
HNL 30.585151
HRK 7.536842
HTG 149.517702
HUF 356.261591
IDR 20675.460516
ILS 3.436357
IMP 0.856285
INR 109.026617
IQD 1496.664119
IRR 1573083.123912
ISK 143.408201
JEP 0.856285
JMD 181.712779
JOD 0.811128
JPY 184.768626
KES 147.790182
KGS 100.045794
KHR 4612.546112
KMF 493.090059
KPW 1029.654809
KRW 1720.180652
KWD 0.354167
KYD 0.952092
KZT 534.091564
LAK 25775.60116
LBP 102306.624332
LKR 383.146991
LRD 207.339144
LSL 18.745392
LTL 3.378113
LVL 0.692031
LYD 7.30877
MAD 10.683212
MDL 20.067025
MGA 4885.514376
MKD 61.652838
MMK 2402.161154
MNT 4103.357305
MOP 9.221511
MRU 45.605207
MUR 53.862191
MVR 17.687095
MWK 1980.939305
MXN 20.037119
MYR 4.653577
MZN 73.116876
NAD 18.74531
NGN 1574.067125
NIO 42.044978
NOK 11.119244
NPR 174.268255
NZD 1.981793
OMR 0.439886
PAB 1.14244
PEN 3.886339
PGK 5.024353
PHP 70.381432
PKR 317.574736
PLN 4.332374
PYG 6949.731709
QAR 4.164584
RON 5.234651
RSD 117.347446
RUB 86.948974
RWF 1679.918137
SAR 4.296725
SBD 9.226894
SCR 13.897381
SDG 686.978888
SEK 11.034005
SGD 1.476787
SHP 0.854157
SLE 27.85815
SLL 23990.379872
SOS 652.84591
SRD 43.017806
STD 23679.741539
STN 24.502687
SVC 9.996009
SYP 126.455402
SZL 18.738973
THB 38.131907
TJS 10.561366
TMT 4.015652
TND 3.376649
TOP 2.754623
TRY 53.751867
TTD 7.752748
TWD 36.714387
TZS 3006.58856
UAH 50.853854
UGX 4210.516915
USD 1.14406
UYU 45.932026
UZS 13720.504541
VES 800.098221
VND 30072.201051
VUV 137.005159
WST 3.175322
XAF 656.003132
XAG 0.018996
XAU 0.000278
XCD 3.09188
XCG 2.059008
XDR 0.815886
XOF 656.02607
XPF 119.331742
YER 271.255836
ZAR 18.639319
ZMK 10297.921453
ZMW 20.592268
ZWL 368.386999
  • RBGPF

    -0.8600

    67

    -1.28%

  • CMSD

    -0.0400

    22.31

    -0.18%

  • CMSC

    0.0100

    22.02

    +0.05%

  • GSK

    -0.0500

    52.47

    -0.1%

  • RIO

    0.6900

    89.49

    +0.77%

  • BCE

    -0.1300

    21.32

    -0.61%

  • RYCEF

    0.4600

    19.08

    +2.41%

  • RELX

    0.0200

    32.07

    +0.06%

  • NGG

    -1.2100

    82.32

    -1.47%

  • AZN

    -10.7900

    178.49

    -6.05%

  • VOD

    -0.0100

    13.08

    -0.08%

  • JRI

    0.0300

    13.03

    +0.23%

  • BCC

    0.9500

    72.24

    +1.32%

  • BTI

    -0.5200

    60.87

    -0.85%

  • BP

    -0.6600

    38.55

    -1.71%

Trump gives EU until July 4 to ratify deal or face tariff hike
Trump gives EU until July 4 to ratify deal or face tariff hike / Photo: Brendan SMIALOWSKI - AFP

Trump gives EU until July 4 to ratify deal or face tariff hike

President Donald Trump on Thursday said the European Union must ratify its trade deal with the United States by July 4 or face "much higher" tariffs, after European officials fell short of agreement on the pact.

Text size:

Trump said he spoke to EU chief Ursula von der Leyen about the issue and "agreed to give her until our Country's 250th Birthday or, unfortunately, their Tariffs would immediately jump to much higher levels."

The Fourth of July holiday this year marks 250 years since the American colonies declared independence from British rule.

The 27-member EU bloc and the United States struck a deal last July, setting tariffs on most European goods at 15 percent.

But Trump has been dissatisfied at the speed of its implementation.

The situation became more complicated after the US Supreme Court ruled in February that Trump had exceeded his authority in imposing a wide swath of his tariffs, including on the EU.

The Trump administration has since imposed a temporary 10-percent duty, while his administration pursues more lasting ways to rebuild his trade agenda.

But the court ruling did not affect sector-specific tariffs like those on cars, which under the EU agreement had been lowered to 15 percent.

As the deal continues to await signoff by EU member states, Trump vowed last week to raise duties on EU cars and trucks to 25 percent, accusing the bloc of failing to hold up its side of the bargain.

Cyprus, which holds the rotating presidency of the Council of the European Union, said it wanted to maintain "positive momentum" at talks with MEPs on May 19.

"I've been waiting patiently for the EU to fulfill their side of the Historic Trade Deal we agreed in Turnberry, Scotland, the largest Trade Deal, ever!" Trump posted on his Truth Social platform.

"A promise was made that the EU would deliver their side of the Deal and, as per Agreement, cut their Tariffs to ZERO!"

In late March, EU lawmakers gave their green light to the tariff deal with Trump, but they also sought additional safeguards.

Despite conditional approval by the European Parliament, the deal must be negotiated with EU states before it can be implemented by the bloc.

T.Ikeda--JT