EU Proposes Groundbreaking Zero-Tariff Deal with US

In a significant move to address growing trade tensions, European Commissioner for Trade and Economic Security Maros Sefcovic has proposed a "zero-for-zero" tariff agreement 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 importance of EU-US economic relations, noting that bilateral trade in goods and services soared to €1.7 trillion in 2023. "We have a mutual interest in making our partnership stronger," he stated, pointing out the potential impact of current US tariffs on an additional €170 billion of EU exports to the US.

Addressing Economic Concerns

Sefcovic labeled the current situation as "not acceptable," underscoring the economic damage on both sides of the Atlantic and the looming threats of heightened inflation and uncertainty in the United States.