Bloomberg Talks Former EU Trade Negotiator John Clarke Talks Possible US Tariff Deal
Jul 9, 2025
John Clarke, a former EU trade negotiator and Director for International Affairs at the European Commission, brings valuable insights into the looming US-EU trade talks. He discusses the pressures on EU negotiators and the complexities surrounding tariffs on key industries like automotive and pharmaceuticals. Clarke highlights internal EU divisions and the potential geopolitical impact, especially regarding support for Ukraine. The conversation also touches on the contentious tech regulations and the challenging balance between EU, US, and China trade relationships.
AI Snips
Chapters
Transcript
Episode notes
EU-US Deal Complexity
- Negotiations between the EU and US are extremely challenging with shifting demands and high stakes.
- A possible deal may involve a 10% tariff with carve-outs for aerospace and wine but cars and pharmaceuticals remain contentious.
Sectors Crucial for EU Agreement
- Carve-outs for wine, spirits, and aerospace are not sufficient for EU acceptance.
- At least one crucial sector like autos or pharmaceuticals must be tariff-free to secure a deal.
Auto Sector Carve-Out Options
- Various methods exist to craft auto industry carve-outs, including incentivizing US production.
- Automakers like BMW and Volkswagen have capacity to boost US output to meet conditions.