Balance of Power
EU Expects US Tariffs to Stay
Apr 15, 2025
Erica York, Vice President of Federal Tax Policy at the Tax Foundation, and Eric Freedman, Chief Investment Officer for US Bank Asset Management, dive deep into the knotty issues surrounding US-EU trade relations. They discuss the stalled negotiations and the implications of ongoing tariffs on both economies. The conversation touches on how recent policies affect investor sentiment and market behavior. With fiscal challenges and geopolitical tensions looming, they reflect on the potential economic consequences and the importance of clear communication in navigating these turbulent waters.
42:14
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Quick takeaways
- The EU faces uncertainty as the US indicates that existing tariffs on sectors like steel and automobiles will likely continue indefinitely.
- Ongoing discussions about a proposed millionaire's tax reflect broader challenges in tax policy and could impact legislative timelines and negotiations.
Deep dives
Trade Negotiations and Tariff Implications
Recent trade negotiations between the U.S. and the European Union reveal a significant lack of clarity on both sides regarding the proposed tariffs and non-tariff barriers. The U.S. has paused its plan for higher reciprocal tariffs, but the EU remains cautious, preparing for an indefinite continuation of existing tariffs on sectors such as steel, aluminum, and automobiles. Both parties have suggested potential compromises, such as dropping industrial goods trade barriers and increasing U.S. LNG imports, yet these proposals have not gained traction. The complexity of non-tariff barriers continues to challenge negotiations, raising concerns about future trade relations.
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