FT News Briefing EU pushes a UK-style trade deal with the US
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Jun 20, 2025 Russia's economy faces a potential recession amid ongoing conflict impacts. The EU is in discussions for a trade deal with the US, mirroring the UK's agreement, while grappling with tariff challenges, especially in car and steel sectors. On a humanitarian front, Gaza is experiencing a severe crisis, with civilians struggling to access aid amidst violence. The podcast highlights these urgent global issues, shedding light on the intertwining of trade dynamics and humanitarian needs.
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EU Eyes UK-Style US Trade Deal
- The EU wants a trade deal with the US modeled on the UK's 10% reciprocal tariff deal with Washington.
- If no deal is reached by July 9th, US tariffs could jump to 50%, risking severe trade disruption for the EU.
Car and Steel Tariffs Key Tensions
- Major tensions between the EU and US focus on cars and steel tariffs.
- The EU seeks reduced or no tariffs in these sectors, similar to the UK deal.
EU Divided on Retaliatory Tariffs
- Without a deal, the EU may retaliate with tariffs but internal divisions exist on this approach.
- Some EU states fear retaliation could harm their own consumers and businesses.