EU aims to reach trade deal with US in 'coming days'

Roya News

3 days ago

The European Union wants to strike a deal with the United States "in the coming days" to avoid sweeping tariffs, a spokesman said Wednesday.
If the EU does not clinch an agreement with the United States, higher tariffs will return and risk unleashing a bitter trade war.
US President Donald Trump's sweeping levies were due to snap back into force on July 9 but he extended the deadline this week to August 1.
"The United States has moved its deadline for finalising deals with partner countries to the first of August. However, we aim to reach a deal before then, potentially even in the coming days," EU trade spokesman Olof Gill said.
"We have shown our readiness to reach an agreement in principle," Gill said, adding: "Reaching a deal now depends on the willingness to find an outcome that is acceptable to both sides."
This type of accord would likely be thin on detail, meaning more negotiations would be needed to flesh it out.
EU diplomats say the European Commission, in charge of trade policy for the 27-country bloc, could continue talks until August 1.
The EU expects Trump to keep a 10-percent baseline tariff on EU goods with exemptions for critical sectors like airplanes, spirits and cosmetics, European diplomats told AFP this week.
Talks at all levels continue between the two sides.
EU trade commissioner Maros Sefcovic spoke to US Commerce Secretary Howard Lutnick Tuesday, and will speak by phone to US Trade Representative Jamieson Greer later Wednesday, Gill told reporters.
Although the EU wants a deal, the spokesman said the commission was ready "for all scenarios".