EU-U.S. Trade Negotiations: A Deal Within Reach
The European Commission is close to securing a trade deal with the U.S. as the EU prepares counter-tariffs worth 93 billion euros in case talks fail. Negotiations aim to avert U.S. tariffs, mirroring existing EU duties. Some sectors might be exempt, while existing U.S. tariffs remain high.

The European Commission announced Thursday that a trade deal with the United States is within reach, as EU members approved 93 billion euros in counter-tariffs on U.S. goods if negotiations collapse. The Commission has emphasized that its primary goal is to prevent the 30% tariffs threatened by the Trump administration.
An EU spokesperson confirmed the focus on a negotiated solution, saying, "We believe such an outcome is within reach." However, the Commission simultaneously advanced plans for countermeasures, consolidating proposed tariffs into a single list for EU member approval. Diplomatically, EU countries overwhelmingly endorsed these measures.
While the first package of counter-tariffs could come into effect on August 7—with some delays on specific products—the EU continues to pursue a trade agreement akin to the U.S.-Japan frame deal, potentially setting a 15% tariff rate on EU goods. However, U.S. advisors urge caution, labeling reports as speculative.
(With inputs from agencies.)
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