Overview

• Ursula von der Leyen and António Costa urged Trump at the G7 summit in Canada to preserve open and predictable transatlantic trade.
• The European Commission tabled a zero-tariff framework for U.S. imports as a basis for constructive dialogue.
• Trump dropped plans for 50% duties on EU goods and extended talks until the July 9 deadline.
• Costa warned that ongoing tariffs would undermine both EU economic growth and planned increases in defense spending.
• The EU stands ready to retaliate against any discriminatory U.S. measures, with last year’s exports to the United States totaling about €500 billion.