EU and US Race Against Time to Reach Tariff Agreement Before July 9 Deadline

The European Union is making a final push to secure a trade agreement with the United States ahead of a looming July 9 deadline, as tensions escalate over potential tariff hikes that could significantly impact transatlantic commerce.

EU Expresses Readiness For Deal

European Commission President Ursula Von Der Leyen confirmed on Wednesday that the EU is ready to reach an agreement with the US on tariffs. Her remarks came just before a crucial round of negotiations set to take place in Washington.

European Trade Commissioner Maroš Šefčovič is heading to the US capital, where he is expected to meet with his American counterparts in a last-ditch effort to avoid steep import duties. If no deal is reached by July 9—the deadline set by President Donald Trump—the White House could raise tariffs on EU imports to as high as 50%, doubling the current 25% rate he proposed in May.

Von Der Leyen Stresses Need For Preparedness

During a press conference in Aarhus, Denmark, European Commission President Ursula Von Der Leyen emphasized the EU’s preference for a negotiated solution with the United States regarding tariffs. However, she made it clear that the bloc is also preparing for the scenario in which talks fail to produce a satisfactory outcome, underlining the EU’s readiness to respond decisively if necessary.

EU Threatens Retaliatory Measures

In May, the EU warned it could impose retaliatory tariffs on up to €95 billion worth of American imports, including vehicles and aircraft, should talks with the US administration fail. The European Commission revealed last week that it has received a proposal from Washington, which it is now reviewing.

“Our target is July 9,” Von Der Leyen reiterated on Wednesday, highlighting the significance of the EU-US trading relationship—the largest in the world, valued at €1.5 trillion annually.

Source: Tovima.com