EU urges US to restore Turnberry trade terms ahead of deal’s first anniversary
The EU has urged the US to swiftly restore the 15% Turnberry tariff terms agreed last year, ahead of the deal's one-year anniversary in July, following talks between Sefcovic and Greer in Paris.
Summary:
- EU trade chief Maros Sefcovic met US Trade Representative Jamieson Greer in Paris for a ninety-minute discussion on the most pressing aspects of the EU-US trade agreement, according to the European Commission
- The Commission called for a swift return to the Turnberry terms, meaning a 15% all-inclusive tariff rate with agreed EU carve-outs, per the Commission statement
- Trump has threatened to raise tariffs on EU cars and trucks to 25%, citing what he describes as EU non-compliance with the deal's terms, according to the Commission
- Sefcovic updated Greer on the likely timeline for the EU to remove duties on imported US industrial goods, with implementation unlikely before June, per the Commission
- The US Supreme Court struck down the previous global tariff framework in February, with Washington replacing it with a blanket 10% surcharge that in some cases leaves EU goods facing tariffs above the agreed 15%, according to the Commission
- Both sides agreed to step up engagement, with the Commission noting it would be beneficial for the deal's main features to be in place ahead of the one-year anniversary at the end of July, per the statement
The European Union has pressed the United States to restore the tariff terms agreed under last year's bilateral trade deal, with Brussels warning that time is running short ahead of the agreement's one-year anniversary at the end of July.
EU trade commissioner Maros Sefcovic met US Trade Representative Jamieson Greer in Paris on Tuesday for a ninety-minute discussion focused on the most urgent elements of the deal. The European Commission said Sefcovic had called for a swift return to the Turnberry terms, under which a 15% all-inclusive tariff rate would apply to EU goods entering the United States, with the carve-outs agreed by both sides restored.
The push comes amid fresh tension over President Donald Trump's threat to impose a 25% tariff on European cars and trucks, a move Washington has justified by claiming the EU is not meeting its obligations under the deal. The Commission offered a timeline update, indicating that EU removal of duties on imported American industrial goods, as agreed last year, was unlikely to be completed before June.
Complicating the picture is a February ruling by the US Supreme Court that struck down the previous global tariff framework. Washington subsequently replaced it with a blanket 10% surcharge on top of existing duties, meaning some EU goods are currently facing effective tariff rates above the 15% Turnberry ceiling.
Both sides agreed to intensify contact in the coming weeks. The Commission said the deal's main features being in place before the July anniversary would be mutually beneficial, framing the deadline as a practical target rather than a hard ultimatum. Whether Washington can move quickly enough, given the legal and political constraints now surrounding its tariff-setting powers, remains the central uncertainty.
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The failure to restore the agreed 15% Turnberry tariff rate leaves EU exporters facing above-deal levies in the interim, with the automotive sector carrying the most acute exposure given Trump's threatened 25% tariff on European cars and trucks. Markets will be watching whether the stepped-up engagement pledged by both sides translates into concrete movement before the July anniversary, as a breakdown or further delay risks triggering retaliatory measures from Brussels that would add to existing trade uncertainty. The Supreme Court's February ruling that struck down the previous global tariff framework has introduced legal and procedural complexity that may slow Washington's ability to move quickly even if political will exists on both sides.
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Turnberry is a reference to the location where the EU-US trade deal was agreed, the Trump Turnberry resort in Ayrshire, Scotland, which is one of Trump's golf properties. It's common practice to name agreements informally after the location where they were struck, in the same way as the Minsk agreements or the Oslo Accords.
This article was written by Eamonn Sheridan at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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