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EU Reviews Latest US Trade Proposal Ahead of Tariff Truce Expiry

Major EU economies demand a rapid treaty to stave off additional US levies.

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Overview

  • The European Commission confirmed receipt of Washington’s final negotiation document and is evaluating its terms before the July 9 deadline.
  • Germany’s Friedrich Merz and France’s Emmanuel Macron have pressed for a quick, straightforward pact to shield their steel, automotive and other industries.
  • The United States currently enforces 10% tariffs on all EU goods, plus 50% on steel and aluminum and 25% on European cars, heightening pressure on Brussels.
  • Ursula von der Leyen signaled willingness to strike a deal but warned that retaliation options remain under consideration.
  • Brussels is also pursuing structured trade ties with Trans-Pacific Partnership members as a hedge against prolonged US talks.