EU Proposes Groundbreaking Zero-Tariff Deal with US

In a bold move to alleviate growing trade tensions, European Commissioner for Trade and Economic Security Maros Sefcovic unveiled a "zero-for-zero" tariff agreement proposal with the United States. This ambitious plan aims to eliminate duties on industrial goods, including key sectors like car parts, to strengthen the resilience of EU-US supply chains.

Strengthening Transatlantic Economic Ties

During his address at the European Parliament, Sefcovic highlighted the critical nature of EU-US economic relations, with bilateral trade in goods and services soaring to €1.7 trillion in 2023. "We have a mutual interest in making our partnership stronger," he asserted, pointing out the potential impact of current US tariffs on an additional €170 billion of EU exports to the US.

A Call to Action Against Economic Harm

Sefcovic described the ongoing situation as "not acceptable," underlining the adverse effects on both economies, including the risk of exacerbating inflation and fostering uncertainty in the US market.