A naukri.com initiative
Bloomberg Quint
1w
92
Image Credit: Bloomberg Quint
EU Races To Expand €2 Trillion Trade Club As US Links Sour
- The European Union is expanding its trade deals globally to reduce dependence on the US in response to increasing protectionism.
- Chief trade negotiator Maros Sefcovic is lobbying to reduce tariffs imposed by President Trump on €380 billion of EU exports.
- The EU, with trade agreements covering over €2 trillion, aims to diversify trade partners due to strained US relations.
- Efforts to diversify face challenges, but recent talks with countries like UAE, Malaysia, and India signal progress.
- EU looks to expand trade deals to counter Trump's tariffs, boosting efforts to engage with lucrative markets.
- Stalled trade agreements are being revived, with talks progressing with countries in Asia and the Middle East.
- With Trump's tariffs affecting most countries, the EU is strategizing with emphasis on free-trade agreements and market diversification.
- Von der Leyen's pivot to Asia seeks cooperation with the Trans-Pacific Partnership and closer ties with China.
- Discussions on electric-vehicle supply chains and customs cooperation underline EU's diversification strategy.
- EU seeks to finalize a major trade deal with Mercosur, aiming to create a vast integrated market between Europe and Latin America.
Read Full Article
5 Likes
For uninterrupted reading, download the app