Brussels: The European Commissioner for the Economy Valdis Dombrovskis stated on Tuesday that the European Union is closely monitoring the progress of trade negotiations with the United States. He emphasized that both political and technical level discussions are ongoing to secure an agreement before the August 1 deadline for potential tariff impositions.
According to Kuwait News Agency, Dombrovskis expressed concerns at a press conference about the uncertainty surrounding trade policy, particularly the US threat of additional tariffs. He indicated that this remains a significant issue for the European economy, despite its demonstrated resilience against various challenges.
In another context, Dombrovskis provided updates on financial support to Ukraine, revealing that the EU has disbursed approximately EUR 17 billion to Kyiv under the G7 loan initiative. This includes a recent contribution of EUR 1.4 billion from Canada. He mentioned that the next EU payment of EUR one billion is anticipated this week, which would increase the total EU contribution under the initiative to EUR eight billion. An additional disbursement under the Ukraine Facility is scheduled for mid-August.
The European Commissioner reiterated the EU's commitment to supporting Ukraine, stating, "Our message is clear: Ukraine is not only defending itself, but all of Europe as Russia is a major security threat for all EU countries." He also noted that finance ministers engaged in informal discussions regarding European defense spending and potential increases in line with NATO targets. These discussions also included available financial tools, such as the SAFE instrument and fiscal flexibility options, highlighting the strategic and urgent necessity of strengthening Europe's defensive capabilities.