US President Donald Trump has given the European Union until July 4 to implement
its side of last year’s trade agreement or face “much higher” tariffs, the
Financial Times reported, citing people familiar with the matter. Trump also
offered a reprieve from threatened higher car tariffs after speaking with
European Commission President Ursula von der Leyen. Under the deal struck in
Turnberry, the US would reduce tariffs on most EU goods to 15%, while the EU
agreed to cut tariffs on US industrial goods and some agricultural products to
zero. Von der Leyen said both sides remain committed to implementing the
agreement and making progress toward tariff reductions by early July.
