EU Leaders Weigh Swift Trade Deal with US Amid Tariff Tensions

In a critical meeting, European Union leaders are poised to communicate their stance to the European Commission on whether to expedite a trade agreement with the United States that leans in Washington's favor or pursue a more balanced deal. The prevailing sentiment, according to officials and diplomats, is to secure a quick agreement, which would subsequently allow the EU to introduce its own rebalancing measures.

German Chancellor Friedrich Merz voiced support for the Commission's efforts to enhance competitiveness and swiftly conclude a trade agreement with the U.S. Ahead of a looming deadline from President Donald Trump, EU leaders are convening in Brussels to strategize their response, as growing support emerges for a swift deal to avoid an economically damaging trade war.

While the United States maintains significant tariffs on EU goods and seems disinterested in reducing them, the EU is prepared to impose additional tariffs on U.S. imports if necessary. The bloc also aims to reassure Slovakia and Hungary about their energy security as part of the EU's plan to phase out Russian gas imports.

(With inputs from agencies.)