We are two weeks away from the country-specific reciprocal
tariffs coming into effect, and the Trump Administration is still
continuing to engage in trade talks with around 20 countries. With
these negotiations ongoing, it is being suggested that the
administration will extend the country-specific tariff pause for
those it considers to be negotiating in good faith. However, not
all U.S. trading partners are having success with their
negotiations.
The EU's discussions with the U.S. have been notable in
their fits and starts. The European Union has announced that it
plans to hit U.S. imports, including Boeing airplanes, with tariffs
if President Trump sticks with even a 10% baseline reciprocal
tariff on EU goods. The EU industry chief says the EU is ready to
respond if trade talks fail to deliver a fair deal.