The European Commission President, Ursula von der Leyen, has signaled the need for more time until July 9 to finalize trade negotiations with the United States. The talks come in response to escalating threats from President Donald Trump regarding tariffs, with European leaders urging for a diplomatic resolution before further economic tensions escalate.
EU Trade Negotiations Deadline Set for July 9 Amidst Rising Tariff Threats
EU Trade Negotiations Deadline Set for July 9 Amidst Rising Tariff Threats
EU's Ursula von der Leyen seeks an extension for trade talks with the US as President Trump hints at increasing tariffs, stirring tension between the two entities.
The European Union is aiming to conclude trade negotiations with the United States by July 9, following a call by Ursula von der Leyen, the President of the European Commission, for more time to secure a favorable deal. In a recent conversation with President Donald Trump, who has expressed dissatisfaction with the negotiation pace and threatened to impose a staggering 50% tariff on US imports from the EU, von der Leyen emphasized readiness to engage in discussions "swiftly and decisively" to benefit both parties.
Trump's announcement in the previous month about instituting a 20% tariff on various EU goods was later modified to a 10% tariff until July 8 in light of ongoing negotiations. Von der Leyen's assertion comes as a response to Trump's remarks at the White House, intensifying fears of unresolved trade issues. EU's trade chief, Maroš Šefčovič, reiterated the bloc’s commitment to achieving a fair deal after engaging with US trade officials, stating that both sides must approach negotiations with mutual respect rather than threats.
Trump's longstanding critique of the US-EU trade relationship underscores the tension that characterizes this negotiation phase, especially as the EU exported over $600 billion in goods to the US last year while importing $370 billion. The tariff concern remains particularly acute in sectors like automotive and agricultural goods, as the EU continues to contend with a 25% duty on steel and aluminum imports.
In light of these developments, leaders from France and Germany have clamored for a diplomatic resolution, warning that an escalation in tariffs would negatively impact both economies. The EU had previously considered its own measures against US goods worth €18 billion, although that action was deferred. Current discussions include potential actions against US imports valued at €95 billion, emphasizing that both sides retain various levers in the trade scenario.
