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Trump’s trade exemptions might not be prolonged, EU warns
Speaking to reporters after the Trade Council, Malmström voiced doubt as to whether the EU’s offer to avoid a trade dispute with US President Donald Trump would be sufficient. “Discussions are continuing. Is this [the offer] going to be enough? I am not sure, frankly,” she said. At a meeting in Sofia last week, EU leaders endorsed a European Commission proposal, including the review of market access to certain US products, including cars. Trump’s team followed the discussions in Sofia with “great interest,” Malmström said. She argued that the Commission’s four-point plan represents the foundation of a “constructive agenda” not only to solve the bilateral differences but also to address the “core” of the current tensions: steel overcapacity. Trump granted a temporary exemption to Europe on the tariffs but set 1 June as a deadline for finding a solution. His ultimate goal is to reduce the US’s trade deficit with Europe.