{"id":97968,"date":"2018-11-05T03:45:08","date_gmt":"2018-11-05T03:45:08","guid":{"rendered":"https:\/\/www.bnreport.com\/juncker-and-trumps-trade-truce-falters-17\/"},"modified":"2018-11-05T03:45:08","modified_gmt":"2018-11-05T03:45:08","slug":"juncker-and-trumps-trade-truce-falters-17","status":"publish","type":"post","link":"https:\/\/www.bnreport.com\/en\/juncker-and-trumps-trade-truce-falters-17\/","title":{"rendered":"Juncker and Trumps trade truce falters"},"content":{"rendered":"<p>Europes fragile peace deal with the U.S. on trade is at breaking point.<\/p>\n<p>Washington is again threatening high tariffs on Europes all-important car industry just as U.S. President Donald Trump is seeking to whip up support before midterm elections on November 6.<\/p>\n<p>In an unusually outspoken attack, two top U.S. officials on Wednesday made clear that Trump is growing frustrated with Europes foot-dragging over a promised trade deal, and is gearing up to roll out car tariffs put on ice in July.<\/p>\n<p>U.S. Commerce Secretary Wilbur Ross, who was in Brussels on Tuesday and Wednesday, was visibly annoyed by the lack of progress in talks and lashed out at the <a href=\"https:\/\/www.politico.eu\/pro\/eu-trade-chief-deal-with-us-will-only-cover-industrial-tariffs\/\" rel=\"noreferrer\" target=\"_blank\">explanation given<\/a> by EU trade chief Cecilia Malmstr\u00f6m.<\/p>\n<p>The openly hostile remarks from Ross and U.S Ambassador to the EU Gordon Sondland are a sign that the trade truce secured by European Commission President Jean-Claude Juncker on a visit to the White House in July is now faltering.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.politico.eu\/wp-content\/uploads\/2018\/06\/GettyImages-936490530-714x461.jpg\"\/><\/p>\n<p>U.S. Commerce Secretary Wilbur Ross | Saul Loeb\/AFP via Getty Images<\/p>\n<p>In that deal, Washington agreed to hold off car tariffs on the understanding that both parties would work quickly toward a broader EU-U.S. trade deal. On Wednesday, however, the two officials accused Malmstr\u00f6m of treading water.<\/p>\n<p>Referring to his Tuesday talks with Malmstr\u00f6m, Ross said he warned her that he would only hold fire on new tariffs on Europe for \u201cas long as talks are going satisfactorily.\u201d<\/p>\n<p>He then suggested, however, that the commissioner from Sweden is taking too long.<\/p>\n<p>\u201cThis is not meant to be a five-year project: This is meant to be something that was to move quickly and in a cooperative fashion.\u201d He also complained that Malmstr\u00f6m is too far from opening real negotiations. Ross said: \u201cMaybe shell think about doing a scoping exercise and maybe after the scoping exercise therell be some negotiations,\u201d a reference to the EUs multistage approach to negotiations.<\/p>\n<p><img decoding=\"async\" src=\"https:\/\/www.politico.eu\/wp-content\/uploads\/2018\/03\/GettyImages-896529622-1-714x476.jpg\"\/><\/p>\n<p>European Trade Commissioner Cecilia Malmstr\u00f6m | Aris Oikonomou\/AFP via Getty Images<\/p>\n<p>When asked whether he had prepared the market study that would enable him to launch sanctions against the European auto industry, Ross hinted the U.S. is ready to strike. \u201cThe study will be ready when its needed and thats as far as Im prepared to go today,\u201d Ross said.<\/p>\n<p>Sondland, the ambassador, was even blunter in his assessment of the EUs pace. He suggested Malmstr\u00f6m and her team could be deliberately stalling and charged her team with \u201ccomplete intransigence.\u201d<\/p>\n<p>\u201cI dont know whether the delays are purposeful, whether they are part of a plan to potentially wait out the term of President Trump. As far as Im concerned President Trump will be the president of the United States until 2024 and I think its a futile exercise to do that,\u201d he added.<\/p>\n<p>Sondland also contradicted <a href=\"https:\/\/www.politico.eu\/pro\/eu-trade-chief-deal-with-us-will-only-cover-industrial-tariffs\/\" rel=\"noreferrer\" target=\"_blank\">Malmstr\u00f6ms view that agriculture should be left out<\/a> of the negotiations: \u201cIt was the full expectation of the president that agriculture would be discussed in the final negotiations,\u201d he said.<\/p>\n<p>Ross also insisted that the U.S. is keen to explore \u201call sectors where there are protectionist things now.\u201d<\/p>\n<p>In total contrast to the U.S. position, Malmstr\u00f6m <a href=\"https:\/\/ec.europa.eu\/avservices\/video\/player.cfm?sitelang=en&amp;ref=I162163\" rel=\"noreferrer\" target=\"_blank\">had earlier on Wednesday accused<\/a> the U.S. of showing no sincere interest in talks.<\/p>\n<p>\u201cWe have not started negotiating yet,\u201d she said. \u201cWe have asked, and said that we are prepared, several times, to start the scoping exercise on a limited agreement focused on industrial goods on tariffs there. So far the U.S. has not shown any big interest there, so the ball is in their court.\u201d<\/p>\n<p>These comments irritated Ross, who said: \u201cIf the quotes are accurate they would appear to us as though she was at a different meeting from the one that we attended.\u201d<\/p>\n<h2><em>Read this next: <a href=\"https:\/\/www.politico.eu\/article\/manfred-weber-gets-commission-top-job-support-from-epp-leaders-spitzenkandidat\/\" rel=\"noreferrer\" target=\"_blank\">Manfred Weber gets Commission top job support from EPP leaders<\/a><\/em><\/h2>\n","protected":false},"excerpt":{"rendered":"<p>Europes fragile peace deal with the U.S. on trade is at breaking point.<\/p>\n<p>Washington is again threate..<\/p>\n","protected":false},"author":1,"featured_media":97969,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[202],"tags":[],"class_list":["post-97968","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Juncker and Trumps trade truce falters - Business News Report<\/title>\n<meta name=\"description\" content=\"Europes fragile peace deal with the U.S. on trade is at breaking point. 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