EU Weighs Options Amidst Looming Tariff Deadline
The European Commission is assessing a new U.S. tariff proposal as the deadline for a transatlantic trade deal approaches. Negotiations continue amidst concerns of escalating tariffs under President Trump's policies. EU leaders express readiness for a deal but also prepare for potential unfavorable outcomes.
European Commission President Ursula von der Leyen announced that the EU has received the latest U.S. document for ongoing tariff negotiations but withheld specifics about Washington's demands. Following a summit in Brussels, she affirmed that 'all options remain on the table.'
Von der Leyen emphasized the EU's readiness to finalize a deal, while simultaneously preparing for the possibility of negotiations failing. The U.S. Trade Representative's office has not commented on the new proposal. Recent discussions have been overshadowed by U.S. priorities such as Iran's nuclear program and trade talks with China.
The EU faces a July 9 deadline set by President Trump to finalize a tariff-reducing agreement or risk increased tariffs on its exports to the U.S. Amidst discussions, European officials remain resigned to the possibility of maintaining a 10% baseline on reciprocal tariffs.
(With inputs from agencies.)
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