Economics
Trade Tensions Poised to Rise as EU-U.S. Talks Break Down
- Trade chief Hogan says Washington’s attention has shifted
- Bloc is seeking accord with U.S. to cut industrial tariffs
Photographer: Patrick T. Fallon/Bloomberg
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European Union efforts to soothe transatlantic trade tensions have stalled, according to the bloc’s trade chief, who said the upcoming U.S. election means any breakthrough may be delayed until after November.
Washington has “stepped back” in recent weeks from talks aimed at defusing a longstanding dispute over aircraft subsidies, Phil Hogan told a video conference of EU trade ministers on Tuesday. Failure to reach an accord could pave the way for Europe to impose tariffs on billions of dollars of American goods as soon as July.