NO USE USA !!!

Lower thirds:

00:27 Donald Trump, US President (12 May 2025)
01:14 Elisabeth Svantesson, Swedish Finance Minister
01:39 Maros Sefcovic, EU Trade Commissioner (6 May 2025)

Script:

This is what the world’s biggest trade relationship looks like.

Billions of dollars in goods and services cross the Atlantic from the European Union to the United States each day.
But it’s not business as usual: 

Washington plans to hike tariffs on most EU goods to 20 percent come July -- and despite EU efforts to strike a deal and avoid the rise,

The US view of Europe still seems far from friendly. 

+++SOT Donald Trump, US President, 12 May 2025 EN+++
The European Union is, in many ways, nastier than China. Okay? And we've just started with them. Oh, they'll come down a lot. You watch.

Brussels is trying a two-pronged approach to get Trump on side:

Offer to slash duties on imports like cars and industrial goods 

-- And warn that retaliation will come if negotiations fail. 

Last week, the EU threatened around 100 billion dollars’ worth of counter-tariffs on a raft of American products

from Boeing aircraft, to bourbon whiskey -- 

plus export restrictions on some chemicals and scrap steel.

This is the message: 

+++SOT Elisabeth Svantesson, Swedish Finance Minister EN+++
First of all: we stand together. We are 27 countries, and it's very important that we stand together, because our market is bigger than the US market. We are many, many consumers here on this side. So we stand together. And now we are negotiating.

Europe also seems keen to show it’s open for business elsewhere. 

+++SOT Maros Sefcovic, EU Trade Commissioner (6 May 2025) EN+++
We are accelerating dramatically our ongoing negotiations with India. We had very successful meetings just last week: Indonesia -- where I had an important VTC yesterday -- Philippines, Thailand and Malaysia.

But that won’t solve Europe’s problem now. 

Though the highest blanket US levies are yet to kick in, 

Duties on EU steel, aluminium and auto exports are already in place, plus a baseline tariff of 10%.

Now it’s over to the  bloc’s negotiators to work out what more Washington wants.

And what Europe is willing to give.