EU leaders discuss new US trade proposal as clock ticks

Perth Now

3 days ago

French President Emmanuel Macron is taking a tough stance as European leaders meet in Brussels to discuss new US proposals for a trade deal, with time running out for the bloc to find a common position before a tariff respite expires on July 9.
Macron warned that if the baseline tariff rate of 10 per cent remained in place then Europe's response would have to have an equivalent impact.
European Commission President Ursula von der Leyen said on Thursday the EU had received the "latest US document" for further negotiations on tariffs.
"All options remain on the table," she told reporters following the summit.
"We are assessing it (...) Our message today is clear. We are ready for a deal. At the same time, we are preparing for the possibility that no satisfactory agreement is reached. This is why we consulted on the rebalancing list and we will defend the European interest as needed," von der Leyen said
European leaders were deciding whether they want to push for a quick trade agreement with President Donald Trump's administration or keep fighting for a better deal, with Europe's two biggest economies apparently at odds.
Chancellor Friedrich Merz of Germany had earlier this week said the EU must push for a "faster" and "simpler" deal, while French officials argued the Commission should take a firmer stance and target US services.
President Emmanuel Macron on Thursday said that France wants a quick and pragmatic trade deal with the United States but that his country would not accept terms that were unbalanced.
All tools must used to ensure a fair deal, the French president said.
"Our goodwill should not be seen as a weakness," Macron said.
Trump has threatened to hike tariffs on EU goods to 50 per cent unless a deal is found next month.
The EU summit follows a NATO meeting this week that agreed to drastically raise defence spending in the military alliance but left some European countries finding it difficult to pay, and Spain explicitly demanding an opt-out.
Aside from tariffs, the EU bloc also has to tackle a raft of other issues, including its support for Ukraine and the prospect of EU membership for a country still at war against nuclear-armed Russia. Hungary is firmly opposed.
Ukrainian President Volodymyr Zelenskiy had urged the EU to pass a new sanctions package on Russia targeting its oil trade and banks, as well as give a clear signal on his country's EU accession.