EU proposes 50 billion increase in US imports

WAM
03 May 2025, 15:33 GMT+10

BRUSSELS, 3rd May 2025 (WAM) -- The European Union is considering a solution to its ongoing trade dispute with the United States by proposing an increase in purchases of American products worth 50 billion.

The proposal, put forward by European Commissioner for Trade Maro efovi in a recent interview, aims to address the perceived trade imbalance between the two sides.

efovi believes that increasing imports of goods such as natural gas and soybeans could provide an effective resolution to the issue.

Currently, the EU is engaged in negotiations with the U.S. administration to secure the removal of tariffs imposed by President Donald Trump, which include a 25% duty on cars, aluminium, and steel, in addition to a 10% tariff on all other products.

The United States maintains that Europe runs a significant trade deficit with the U.S., estimated at several hundred billion dollars. However, the European Union argues that the figure is much lower-around 50 billion-when services are factored into the calculation.

Watch latest videos

News RELEASES

Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Calgary Monitor.

More Information

null in null

North America

Section

Ireland tourism slumps for 7th month, March visitors down 15 percent

Number of tourists visiting Ireland fell 15 percent in March

DUBLIN, Ireland: Tourism to Ireland took another hit in March, with the number of overseas visitors falling for the seventh consecutive...

New Mexico hosts global celebration of native and indigenous cultures

Thousands gather in New Mexico for the largest powwow in North America

ALBUQUERQUE, New Mexico: Thousands of people are gathering in New Mexico for a big event that celebrates Native American and Indigenous...

Toyota sets March sales record as North American buyers rush in

Toyota's March overseas sales peak with North American sales

TOKYO, Japan: Toyota's overseas sales surged to a new March record, driven largely by a rush of North American buyers ahead of newly...

EU proposes 50 billion increase in US imports

BRUSSELS, 3rd May 2025 (WAM) -- The European Union is considering a solution to its ongoing trade dispute with the United States by...

China says US must show sincerity before tariff talks can proceed

Beijing [China], May 3 (ANI): China's Ministry of Commerce on Friday said that the country is currently evaluating the situation after...

Australia votes amid cost-of-living crisis, uncertainty over Trump's policies

Canberra [Australia], May 3 (ANI): Australians are set to make a crucial choice this Saturday as they head to the polls in a tightly...

Canada

Section

CANADA-VANCOUVER-FESTIVAL ATTACK-MOURNING

(250503) -- VANCOUVER, May 3, 2025 (Xinhua) -- People carry flowers as they visit the site of the Lapu-Lapu Day festival tragedy in...

Australia votes amid cost-of-living crisis, uncertainty over Trump's policies

Canberra [Australia], May 3 (ANI): Australians are set to make a crucial choice this Saturday as they head to the polls in a tightly...

"Dr. Bethune of potato": Belgian agronomist cultivates EU-China friendships

Over the past two decades, Serneels has crossed continents more than 60 times, tirelessly traveling into China's rural heartlands....

"Important to distinguish wants from reality": Canada PM Carney responds to Trump's remarks on making Canada 51st State of US

Ottawa [Canada], May 2 (ANI): Canadian Prime Minister Mark Carney held his first press conference after winning the elections on Friday...

Canadian PM to meet Trump on Tuesday

Ottawa [Canada], May 2 (ANI): Canadian Prime Minister Mark Carney will meet US President Donald Trump at the White House on May 6....

Israel hit with largest ever wildfires

Prime Minister Benjamin Netanyahu has declared a national emergency over the situation Israeli firefighters continue to battle wildfires...