Search
00
GBAF Logo
trophy
Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

Subscribe to our newsletter

Get the latest news and updates from our team.

Global Banking and Finance Review

Global Banking & Finance Review

Company

    GBAF Logo
    • About Us
    • Profile
    • Privacy & Cookie Policy
    • Terms of Use
    • Contact Us
    • Advertising
    • Submit Post
    • Latest News
    • Research Reports
    • Press Release
    • Awards▾
      • About the Awards
      • Awards TimeTable
      • Submit Nominations
      • Testimonials
      • Media Room
      • Award Winners
      • FAQ
    • Magazines▾
      • Global Banking & Finance Review Magazine Issue 79
      • Global Banking & Finance Review Magazine Issue 78
      • Global Banking & Finance Review Magazine Issue 77
      • Global Banking & Finance Review Magazine Issue 76
      • Global Banking & Finance Review Magazine Issue 75
      • Global Banking & Finance Review Magazine Issue 73
      • Global Banking & Finance Review Magazine Issue 71
      • Global Banking & Finance Review Magazine Issue 70
      • Global Banking & Finance Review Magazine Issue 69
      • Global Banking & Finance Review Magazine Issue 66
    Top StoriesInterviewsBusinessFinanceBankingTechnologyInvestingTradingVideosAwardsMagazinesHeadlinesTrends

    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
    Copyright © 2010-2025 GBAF Publications Ltd - All Rights Reserved.

    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Home > Headlines > Exclusive-Aide to EU chief joins tariff negotiation team to spur US talks, sources say
    Headlines

    Exclusive-Aide to EU chief joins tariff negotiation team to spur US talks, sources say

    Exclusive-Aide to EU chief joins tariff negotiation team to spur US talks, sources say

    Published by Global Banking and Finance Review

    Posted on June 5, 2025

    Featured image for article about Headlines

    By Julia Payne and Jan Strupczewski

    BRUSSELS (Reuters) -The European Union has changed its team locked in trade talks with the Trump administration, bringing in a close aide to European Commission President Ursula von der Leyen to deal more swiftly with political questions arising from the technical negotiations, three sources familiar with the talks said.

    The move follows frequent outbursts of frustration by U.S. President Donald Trump at what the White House perceives as slow progress in talks with the EU. Late in May he recommended a 50% tariff on most European goods from June, before backtracking.

    The move to bring more political decision-making to the EU team reflects challenges confronting the bloc as it negotiates a trading relationship with a U.S. president who has said repeatedly the EU was established to screw the United States.

    It also reflects the difficulties negotiating trade terms in isolation when Trump has sought to fold non-tariff barriers such as digital services taxes and food standards into the talks.

    "If you are a trade negotiator you need to be sure you have full political backing, so if the top level is there you feel stronger," one of the sources said.

    The expanded team, which apart from the von der Leyen aide now also includes a cabinet member of Trade Commissioner Maros Sefcovic, was dispatched to Washington this week after a call between Trump and von der Leyen in which they agreed to fast-track negotiations. 

    Following that call Trump agreed to allow more time for talks between Washington and the 27-nation bloc to produce a deal by July 9.

    "It was a merger of Commission layers to reinforce and act fast," a second of the sources said of the team's expansion, adding the team's shape could change again as talks continue.

    U.S. Trade Representative Jamieson Greer said a meeting with Sefcovic in Paris on Wednesday had been constructive and that he was pleased negotiations were advancing quickly. He noted "a willingness by the EU to work with us to find a concrete way forward to achieve reciprocal trade". 

    Sefcovic told reporters that both sides had concluded talks were "advancing in the right direction, at pace," and that high-level contacts would follow shortly. He and Greer had agreed how to "restructure" the focus of negotiations with the United States, he added.

    Washington was focused on four areas in its negotiations with other countries: tariffs, non-tariff barriers, purchases and economic security, one of the sources said. 

    Trump has already hit Europe with a 50% tariff on steel and aluminium as well as a heightened levy on car imports. The EU is racing to secure a deal before July 9 when "reciprocal" tariffs on most other goods could surge from 10% to as high as 50%.

    Unlike Britain, the first major economy to reach a narrow trade agreement with the Trump administration, the EU is pushing for a comprehensive deal, with a baseline tariff rate below the 10% now in force.

    Two of the three sources said additional technical expertise had also been added to the negotiating team, but there had been no changes to the team's leadership.

    "I think it suits everyone to have the political cover," the first source said.  

    (Reporting by Julia Payne and Jan Strupczewski; editing by Richard Lough, William Maclean)

    Related Posts
    Corruption charges spark protests against Albanian government
    Corruption charges spark protests against Albanian government
    Exclusive-US conducting surveillance flights over Nigeria after Trump intervention threat
    Exclusive-US conducting surveillance flights over Nigeria after Trump intervention threat
    Six British men charged with over 60 sexual offences against woman
    Six British men charged with over 60 sexual offences against woman
    Mercedes reaches $150 million settlement with US states over diesel scandal
    Mercedes reaches $150 million settlement with US states over diesel scandal
    Italian prosecutors ask to drop case of suspected Russian drone flyovers
    Italian prosecutors ask to drop case of suspected Russian drone flyovers
    Three seriously hurt in explosion at chemical plant in France
    Three seriously hurt in explosion at chemical plant in France
    Chris Rea, singer of 'Driving Home for Christmas', dies at 74
    Chris Rea, singer of 'Driving Home for Christmas', dies at 74
    Portugal's far-right leader ordered to remove posters targeting Roma community
    Portugal's far-right leader ordered to remove posters targeting Roma community
    Mercedes reaches $120 million settlement with US states over emissions scandal
    Mercedes reaches $120 million settlement with US states over emissions scandal
    Sputnik developer becomes head of Russia's top vaccine centre
    Sputnik developer becomes head of Russia's top vaccine centre
    UK's Reeves sets March 3 as date for next economic forecasts
    UK's Reeves sets March 3 as date for next economic forecasts
    Analysis-How AI boom is pressuring videogame console industry in race for memory chips
    Analysis-How AI boom is pressuring videogame console industry in race for memory chips

    Why waste money on news and opinions when you can access them for free?

    Take advantage of our newsletter subscription and stay informed on the go!

    Subscribe

    More from Headlines

    Explore more articles in the Headlines category

    South Africans dragged into Russia's war in Ukraine dig trenches, dodge bullets

    South Africans dragged into Russia's war in Ukraine dig trenches, dodge bullets

    Exclusive-China likely loaded more than 100 ICBMs in silo fields, Pentagon report says

    Exclusive-China likely loaded more than 100 ICBMs in silo fields, Pentagon report says

    Czech security council to decide on ammunition scheme for Ukraine in January

    Czech security council to decide on ammunition scheme for Ukraine in January

    Pope Leo's new US bishops are critics of Trump's migrant crackdown

    Pope Leo's new US bishops are critics of Trump's migrant crackdown

    Cricket-England's McCullum wants to keep 'pretty good gig' despite Ashes defeat

    Cricket-England's McCullum wants to keep 'pretty good gig' despite Ashes defeat

    Freed Belarus opposition leaders delay public appearance to recover

    Freed Belarus opposition leaders delay public appearance to recover

    Rugby-Ex-players lose UK court bid to block disclosure orders in concussion lawsuit

    Rugby-Ex-players lose UK court bid to block disclosure orders in concussion lawsuit

    Factbox-How Europe plans to bolster its military ranks

    Factbox-How Europe plans to bolster its military ranks

    Sovereignty of Kingdom of Denmark must be preserved, EU spokesperson says

    Sovereignty of Kingdom of Denmark must be preserved, EU spokesperson says

    Russia is ready to legally confirm that it has no intention of attacking NATO, deputy minister says

    Russia is ready to legally confirm that it has no intention of attacking NATO, deputy minister says

    Germany charges suspected former Syrian intelligence agent with murder in Assad jail

    Germany charges suspected former Syrian intelligence agent with murder in Assad jail

    Romanian president says judiciary will be investigated to address claims of abuses

    Romanian president says judiciary will be investigated to address claims of abuses

    View All Headlines Posts
    Previous Headlines PostRemains of Canadian hostage returned to Israel, Canadian PM Carney says
    Next Headlines PostFormer Arsenal forward jailed in UK on cannabis smuggling charge