EU-US tariff deal ‘unsatisfactory’, ‘imbalanced’: Senior EU lawmaker

A senior European lawmaker has sharply criticised a draft trade agreement between the European Union (EU) and the United States, warning that it could undermine the bloc’s economic stability and job security.

- IANS:

Asenior European lawmaker has sharply criticised a draft trade agreement between the European Union (EU) and the United States, warning that it could undermine the bloc’s economic stability and job security.

Bernd Lange, chair of the European Parliament’s Committee on International Trade, described the proposed framework, which includes a 15 per cent tariff on all EU exports to the United States, as “unsatisfactory” and “significantly imbalanced.”

The tariff rate, he noted, would represent a fourfold increase over current average levels, while the EU would commit to zero tariffs on US goods.