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yesterday

EU Leaders Divide Over Quick Trade Deal or Retaliation Before Trump’s July 9 Tariff Deadline

EU leaders will decide in Brussels whether to accept a narrow US-proposed tariff rollback, with preparations already under way for EU counter-measures.

European Union flags fly outside the European Commission in Brussels, Belgium November 8, 2023. REUTERS/Yves Herman/File Photo
FILE - A member of European Commission, left, prepares to exchange documents with Chinese delegation at a signing ceremony after the 5th China-EU High Level Economic and Trade dialogue at Diaoyutai State Guest House in Beijing, on Sept. 28, 2015. (AP Photo/Andy Wong, File)
European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium March 18, 2025. REUTERS/Yves Herman/File Photo
The European Commission will ask leaders of the EU’s 27 members meeting in Brussels how they want to respond to President Donald Trump’s July 9 deadline for a deal.

Overview

  • President Trump has threatened to raise existing 10% tariffs on most EU goods to 50% on July 9 if Brussels fails to clinch a deal, targeting autos, steel and aluminum.
  • The European Commission has asked member states to choose between limited US concessions on tariffs and non-tariff barriers or stepping up plans for up to €100 billion in retaliatory duties.
  • German Chancellor Friedrich Merz, supported by France’s Emmanuel Macron and Italy’s Giorgia Meloni, is pushing for a rapid agreement despite warnings it may favor Washington.
  • Several EU capitals, including Paris and Madrid, are exploring digital advertising taxes and other rebalancing measures to shield key sectors from US levies.
  • Some leaders are discussing closer economic ties with China as a strategic hedge and to stabilize markets if transatlantic talks falter.