EU Prepares for All Trade Scenarios with Trump Administration

The European Union is actively engaging with the Trump administration to secure a trade agreement while preparing for various potential outcomes, as stated by European Commission President Ursula von der Leyen on Wednesday.

Von der Leyen assured the European Parliament that the EU will continue to uphold its principles and protect its interests, expressing a commitment to good faith negotiations while remaining alert to all possibilities. This comes as President Trump issued an executive order on Monday postponing the enforcement of 'reciprocal' tariffs until August 1.

He has intimated numerous trade partners, from Japan to Myanmar, of impending significant tariff hikes. However, according to EU sources quoted by Reuters, the European Union has not received such a notification.

(With inputs from agencies.)