Trump's Trade Decisions: EU and China in Focus
President Donald Trump is set to make trade deal decisions soon, with ongoing negotiations involving China and the EU. The focus is on steel, aluminum, and pharmaceuticals. U.S. Commerce chief Howard Lutnick notes that the U.S.-EU agreement aims to include medicines in the 15% tariff ahead of Trump's upcoming pharmaceutical policy announcement.
In a critical week for international trade, President Donald Trump is poised to make landmark decisions on trade agreements, drawing attention particularly toward ongoing negotiations with China and the European Union. U.S. Commerce chief Howard Lutnick confirmed that Trump has set a Friday deadline to finalize key aspects of these deals, with a closer focus on sectors like steel, aluminum, and pharmaceuticals.
While speaking to CNBC, Lutnick revealed that discussions with EU officials have made headway regarding pharmaceutical tariffs, aligning with Trump's upcoming policy statements. This development comes amid a dynamic trade framework revealed on Sunday, highlighting the intertwined nature of global tariff negotiations.
Lutnick emphasized the significance of the 15% tariff on pharmaceuticals, highlighting its effect on European-made medicines, which are poised to be integral in forthcoming trade policies. President Trump aims to address remaining uncertainties and push for conclusive resolutions in trade by the end of the week, marking a pivotal moment in U.S.-EU trade relations.
(With inputs from agencies.)
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