Overview

• The United States has threatened to raise reciprocal tariffs on EU imports from 10% to as high as 50% if no deal is reached by July 9, 2025.
• White House Press Secretary Karoline Leavitt said the July 9 deadline is “not critical” and that President Trump could extend it or set tariff rates unilaterally.
• At a June 26 summit in Brussels, EU heads of state instructed the European Commission to weigh a quick deal against preparing up to €100 billion in counter-tariffs on US goods.
• European Commission President Ursula von der Leyen confirmed receipt of Washington’s latest trade proposal and said all options remain on the table as the EU assesses it.
• EU leaders have also discussed forming a new trade initiative with CPTPP members to secure market access beyond transatlantic negotiations.