Singapore: The European Union accelerates free trade talks with Asia following high prices of US President Donald Trump, the block commercial chief said on Wednesday.Trump has slapped a series of higher prices on Europe since March and in his biggest move, he imposed a tariff of 20% on the majority of EU products last month – before announcing a 90 -day break which is expected to expire in July.Negotiations with Washington are a priority, but such talks will not come “at all costs,” said EU commerce, Maros Sefcovic, to journalists in Singapore.“I would like to emphasize that in today’s geopolitical context, we make sure that the EU does not put all its eggs in a single basket,” he said.“Bilaterally, we accelerate negotiations with Indonesia, the Philippines, Thailand and Malaysia,” he said.The four countries are key members of the association of 10 members of the Southeast Asian Nations (ASEAN), a region of more than 650 million people.“And we are also intensifying commitments with India. We have just had another series of negotiations last week,” said Sefcovic.He spoke to Singapore after having signed a digital trade agreement between the EU and the city-state on Wednesday.“Our goal here is also very clear: continue to sign agreements and remain a reliable, reliable and predictable partner in a rapidly changing world landscape,” he said.The Commissioner said the EU is also considering “potential improved cooperation” with members of the complete and progressive agreement for the Trans-Pacific Partnership (CPTPP). Signs of “de -escalation” The EU has an excess of 154 billion euros ($ 175 billion) against the United States in the goods trade, but is in deficit for 104 billion euros in service, said Sefcovic, citing data from the European Statistics Office.This leaves the EU a surplus of 50 billion euros, which can be rebalanced by buying more liquefied natural gas, soybean beans and high-end computer flea in the United States, said Sefcovic.Trump said the deficit was several hundred billion dollars a year.There is currently a “basic” 10% levy on EU goods in 27 countries and other nations in the world.Negotiators now seek to avoid a complete trade war if the higher prices come into force in July.The EU is also looking for signs of “de-escalation” when American and Chinese officials meet in Switzerland for tariff talks this weekend, the commissioner said.Trump imposed prices totaling 145% on the goods of China. Beijing retaliated with 125% of imports from imports from the United States.
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