Bloomberg Talks EU Justice Commissioner Michael McGrath Talks US Trade, Data Protection
Jul 16, 2025
Michael McGrath, the European Union Commissioner for Democracy, Justice, the Rule of Law and Consumer Protection, shares insights on pivotal trade negotiations with the U.S. He emphasizes the urgency of reaching an agreement before looming tariffs hit. The discussion also touches on the complexities of the EU's upcoming budget, the importance of financial cooperation among member states, and efforts to simplify GDPR regulations for businesses while maintaining robust data protection. McGrath highlights the EU's commitment to safeguarding citizen data rights in a changing global landscape.
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Optimism on EU-US Trade Deal
- A trade agreement between the EU and US can be reached before August 1 to avoid 30% tariffs.
- Stable trade relations support millions of jobs and are in everyone's mutual interest.
Challenges in EU Budget Negotiations
- The EU's next seven-year budget faces tough negotiations with many financial pressures.
- Repaying COVID loans adds 20 to 25 billion euros annually starting 2028, complicating priorities.
EU Budget Linked to Rule of Law
- The EU plans to tie future budgets to rule of law reforms with national and regional partnership plans.
- Freezing funds hasn't worked; new tools will be agile and ensure member states meet clear legal obligations.