Trump's Tariff Threats Cast Shadow Over EU Trade Talks

Turnberry: US President Donald Trump is teeing off on the golf course in the picturesque Scottish town of Turnberry, but the real game-changer lies in the high-stakes trade negotiations with the European Union (EU). Trump's meeting with European Commission chief Ursula von der Leyen has stirred speculations globally, as both sides inch closer to a deal on tariff rates. The event, at a time when the clock is ticking, with the White House's deadline to impose stiff import taxes looming large this week, hints at some important decision.

As per trade analysts, the stakes are high, with the EU prepared to retaliate with tariffs on hundreds of American products, ranging from beef and auto parts to beer and Boeing aircraft, if a deal isn't reached. Trump's threat of a 30% tariff rate on the bloc of 27 member states has raised concerns about the impact on the global economy. The US and EU seemed close to a deal earlier this month, but Trump's sudden change of heart has put the negotiations back on the table.

Trump's Trade Threat To Thailand And Cambodia

Meanwhile, the US President's focus on trade has followed him to Scotland, where he recently posted on his Truth Social platform that he would block any trade deals between the US and Cambodia and Thailand due to their violent clashes along long-disputed border areas. Trump claimed to have spoken with Cambodian Prime Minister Hun Manet and Thai acting Prime Minister Phumtham Wechayachai, calling for a ceasefire. "Both countries want to get back to the 'Trading Table' with the United States, which we think is inappropriate to do until such time as the fighting STOPS," Trump wrote.

In a surprise move, Donald Trump expressed optimism about reaching a deal with the EU, saying there's a 50-50 chance, maybe less than that, but a 50-50 chance of making a deal. However, any agreement would need to buy down the currently scheduled tariff rate of 30% on EU goods. The US and Britain recently announced a trade framework in May and a larger agreement last month during the Group of Seven meeting in Canada. He claimed the deal is concluded, but the White House suggests it still needs some polishing.

As US President Trump prepared to meet with British Prime Minister Keir Starmer on Monday, the stakes are high for a mutually beneficial agreement. With Trump's tariff policies inflicting a 160-billion-baht loss on Thailand's economy, according to the Thai Chamber of Commerce, it's clear that the global economy is watching with bated breath.