US Ambassador to the European Union Andrew Puzder says it \u201cwould be economic malpractice\u201d if the European Parliament scuttled a US-EU trade accord in a vote slated for this week, as the EU also presses ahead with a new trade deal with Australia.<\/p>\n
European lawmakers are due to vote on Thursday, after several delays, on whether to implement a political agreement first struck between the United States and the EU last summer.<\/p>\n
\u201cAll the signs seem to be good,\u201d Puzder said in an interview with Euronews on Tuesday. \u201cYou can\u2019t take anything for granted and I don\u2019t want to pre-judge the result. It really would be economic malpractice not to pass this.\u201d<\/p>\n
The original deal tripled levies on European goods while cutting tariffs on US industrial products to zero, drawing heavy criticism for being too favorable to Washington and for appearing to be an EU climbdown.<\/p>\n
Crucially, the deal to be voted on is not the one US President Donald Trump and European Commission President Ursula von der Leyen shook hands on in Scotland in July.<\/p>\n
Lawmakers have added an expiration date, a trigger tied to territorial sovereignty, and automatic snapbacks on steel tariffs, which change the deal\u2019s risks.<\/p>\n
Parliamentary sources told Euronews that the package, though suboptimal, is likely to pass as most groups plan to back it, making final approval probable.<\/p>\n
The EU paused adoption of the deal after the US Supreme Court struck down the administration\u2019s broad tariff measures last month and after Washington threatened to annex Greenland.<\/p>\n
Puzder warned the bloc should expect more tariffs if it does not approve the trade deal with the US. \u201cIf the trade deal goes away, you guys get hit with the increased tariffs, and for us, nothing changes,\u201d he told Bloomberg on Monday.<\/p>\n
Pact with Australia<\/strong><\/p>\n Regarding the free trade pact agreed by the EU and Australia on Tuesday in Canberra, Puzder said the US does not see it as threatening or detrimental.<\/p>\n \u201cIf two of our closest allies close an agreement on trade, it helps the world; it doesn\u2019t hurt the world,\u201d he said.<\/p>\n After nearly ten years of talks, Australia and the EU have reached a deal that will cut tariffs on both sides and widen trade across multiple sectors, the Australian Associated Press reported.<\/p>\n Under the agreement, Australia will scrap a 5 percent duty on EU imports, a levy that hits carmakers such as Mercedes and makers of fashion, food and drink.<\/p>\n The EU will drop tariffs on a broad range of Australian exports, including critical minerals, manufactured goods and many dairy items.<\/p>","protected":false},"excerpt":{"rendered":" US Ambassador to the European Union Andrew Puzder says it \u201cwould be economic malpractice\u201d if the European Parliament scuttled a US-EU trade accord in a vote slated for this week, as the EU also presses ahead with a new trade deal with Australia. European lawmakers are due to vote on Thursday, after several delays, on […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-135497","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","jetpack-related-posts":[],"_links":{"self":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/135497","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/comments?post=135497"}],"version-history":[{"count":0,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/posts\/135497\/revisions"}],"wp:attachment":[{"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/media?parent=135497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/categories?post=135497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/chezaspin.com\/blog\/wp-json\/wp\/v2\/tags?post=135497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}