WASHINGTON (AP) — President Donald Trump mentioned Thursday that he’s in “no rush” to achieve any commerce offers due to the revenues his tariffs are producing, however urged whereas assembly with Italian Premier Giorgia Meloni that it might be straightforward to seek out an settlement with the European Union and others.
His administration has indicated that gives are coming from different nations and it’s attainable to do 90 offers throughout the 90-day tariff pause, however the president performed down the chance of an accelerated timeline, saying any agreements would come “at a certain point.”
“We’re in no rush,” mentioned Trump, hinting that he has leverage as a result of different nations need entry to U.S. customers.
Meloni’s assembly with Trump will take a look at her mettle as a bridge between the EU and the USA. She is the primary European chief to have face-to-face talks with him since he introduced and then partially suspended 20% tariffs on European exports.
Meloni secured the assembly as Italy’s chief, however she additionally has, in a way, been “knighted” to symbolize the EU at a vital juncture within the fast-evolving commerce warfare that has stoked recession fears. She was in shut contact with EU Fee President Ursula von der Leyen earlier than the journey, and “the outreach is … closely coordinated,” a fee spokeswoman mentioned.
“We know we are in a difficult moment,” Meloni mentioned this week in Rome. “Most certainly, I am well aware of what I represent, and what I am defending.”
The EU is defending what it calls “crucial business relationship on this planet,’’ with annual commerce with the U.S. totaling 1.6 trillion euros ($1.8 trillion). The Trump administration has mentioned its tariffs would allow commerce negotiations that may field out China, the world’s dominant producer. However Trump maintains that rivals and allies alike have taken benefit of the U.S. on commerce.
Commerce negotiations fall underneath the authority of the EU Fee, which is pushing for a zero-for-zero tariff cope with Washington. Trump administration officers, in talks with the EU, have but to publicly present indicators of relenting on the president’s insistence {that a} baseline 10% tariff be charged on all overseas imports. Trump paused for 90 days his preliminary 20% tax on EU merchandise in order that negotiations might happen.
The EU has already engaged with Trump administration officers in Washington. Maroš Šefčovič, the European Commissioner for commerce and financial safety, mentioned he met on Monday with Commerce Secretary Howard Lutnick and U.S. Commerce Consultant Jamieson Greer.
Šefčovič mentioned afterward on X that it might “require a significant joint effort on both sides” to get to zero tariffs and work on non-tariff commerce limitations.
Meloni’s margins for progress are extra in gaining readability on the Republican president’s objectives somewhat than outright concessions, specialists say.
“It is a very delicate mission,” mentioned Fabian Zuleeg, chief economist on the European Coverage Heart assume tank in Brussels. “There is the whole trade agenda, and while she’s not officially negotiating, we know that Trump likes to have this kind of informal exchange, which in a sense is a negotiation. So it’s a lot on her plate.”
Because the chief of a far-right celebration, Meloni is ideologically aligned with Trump on points together with curbing migration, selling conventional values and skepticism towards multilateral establishments. However stark variations have emerged in Meloni’s unwavering help for Ukraine after Russia’s invasion in February 2022.
The 2 leaders are anticipated to debate the warfare and Italy’s position in an eventual postwar reconstruction of Ukraine. Trump is predicted to press Meloni to extend Italy’s protection spending, which final 12 months fell effectively under the two% of gross home product goal for nations within the NATO navy alliance. Italy’s spending, at 1.49% of GDP, is among the many lowest in Europe.
Regardless of the variations on Ukraine and protection spending, Meloni is seen by some within the U.S. administration as an important bridge to Europe at a troublesome second for trans-Atlantic relations.
Trump is trying not solely to debate with Meloni how “Italy’s marketplace can be opened up, but also how they can help us with the rest of Europe,” based on a senior administration official who briefed reporters earlier than the go to. The official spoke on the situation of anonymity underneath floor guidelines set by the White Home.
After being the one European chief to attend Trump’s Jan. 20 inauguration, Meloni has responded with studied restraint as abrupt shifts in U.S. coverage underneath Trump have frayed the U.S.-European alliance. She has denounced the tariffs as “wrong” and warned that “dividing the West would be disastrous for everyone,” after Trump’s heated White Home trade with Ukraine’s president.
“She has been very cautious,’’ mentioned Wolfango Piccoli, an analyst on the London-based Teneo consultancy. “It’s what we want when we have now a counterpart that’s altering each day.’’
Italy maintains a 40 billion euro ($45 billion) commerce surplus with the U.S., its largest with any nation, fueled by Individuals’ urge for food for Italian glowing wine, foodstuffs like Parmigiano Reggiano arduous cheese and Parma ham, and Italian luxurious trend. These are all sectors vital to the Italian financial system, and principally supported by small- and medium-sized producers who’re core center-right voters.
“All in all, I think she will focus on the very strong economic and trade relations that Italy has with the United States, not just in terms of exports, but also services and energy,” mentioned Antonio Villafranca, vice chairman of the ISPI assume tank in Milan. “For example, Italy could even consider importing more gas from the U.S.”
The assembly comes in opposition to the backdrop of rising issues over international uncertainty generated by the escalating tariff wars. Italy’s development forecast for this 12 months has already been slashed from 1% to 0.5% consequently.
The Trump administration has imposed tariffs on a lot of the world, arguing that different nations have taken benefit of the U.S., as evidenced by its commerce deficits. However with the 90-day pause, the White Home has elevated Trump’s tariffs on China to 145% whereas preserve separate tariffs of as a lot as 25% on Canada, Mexico, autos, metal and aluminum.
On Wednesday, Trump met with Japan’s chief commerce negotiator, Ryosei Akazawa. Trump, on social media, summarized the assembly s attaining “Big progress!” however he didn’t provide any specifics. China is concurrently searching for to strike offers that would presumably undercut claims made by Trump that his tariffs will finally result in extra home manufacturing facility jobs and stronger development.
Specialists cautioned in opposition to elevating expectations over any concrete progress between the U.S. and EU.
“The best strategy has been to be very circumspect: Get there, get the meeting, get the photo opportunity,” Piccoli mentioned. “If she is able to come back, and give a sense of how Washington wants to frame future relations on trade, defense and Ukraine policy, that would be a huge win.”