Trump trade deals appear distant as tariff tensions simmer

WASHINGTON: US President Donald Trump´s promises of securing trade deals with major partners took another blow Thursday, with a French minister saying an agreement with the EU was “a long way” off and China insisting talks had not even started.

Since returning to the presidency in January, Trump has imposed 10 percent tariffs on most trading partners, including the European Union, as a means of pressuring them to negotiate trade agreements more favorable to the United States.

He has also slapped tariffs on sector-specific imports, adding to strained ties with partners. But he saved his toughest blows for China, slapping an additional 145 percent tariff on goods from the world´s second biggest economy this year -- drawing strong retaliation.

Even though top US officials have touted 18 proposals brought to the trade team and said Washington was setting the stage for a deal with China, Beijing has called claims of ongoing trade talks “groundless.”

Separately, France´s economy minister Eric Lombard said Thursday in Washington that the EU and United States are far from reaching a deal on tariffs. Asked about the state of negotiations with Beijing, Trump maintained on Thursday: “We´ve been meeting with China.” Yet, hours earlier, Chinese Commerce Ministry spokesman He Yadong told reporters: “I would like to emphasize that there are currently no economic and trade negotiations between China and the United States.”

On Wednesday, US Treasury Secretary Scott Bessent told reporters that Washington and Beijing were “not yet” speaking on lowering tariffs. He added that staggeringly high tariff levels would have to come down before trade talks can happen, and stressed that Trump has not made any unilateral offer to slash duties on Chinese products. On Thursday, a White House official told AFP the Trump administration was looking at “streamlining overlap” between tariffs on automobiles, steel and aluminum, as well as those imposed over illicit fentanyl.

But no final decision has been made on any amendments to tariffs on auto imports and parts, the White House added. The picture appears mixed for other trading partners, with Trump unveiling -- then halting -- even steeper levies on many of them.