The EU and Indonesia have reached a political consensus on signing a free trade agreement
EU Commission President von der Leyen announced at a press conference in Brussels that the EU and Indonesia have reached a political consensus on signing a free trade agreement.
She said, "I am very pleased to announce that we have just reached a political agreement on an ambitious free trade agreement. This is a comprehensive economic partnership agreement. We call it CEPA. After 10 years of negotiations, we have finally made a breakthrough... I look forward to completing the formalities of this agreement as soon as possible."
The agreement between the EU and Indonesia was reached against the backdrop of the US decision to impose an additional 30% tariff on all European imports. Von der Leyen did not hide the fact that this agreement is particularly important for the EU against the background of the differences with the US.
She said, "I can say that because of the unstable geopolitical and international economic situation, it is so important for us to diversify our economic partnerships."
Previously, US President Trump stated that the US would impose a 30% tariff on EU goods starting August 1, while existing industry tariffs would remain in effect. The letter also added that if the EU intends to raise tariffs on US goods, the US will add a "corresponding amount" on top of the existing 30% tariff.
Original article: https://www.toutiao.com/article/1837572358511684/
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