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Tags: eu | tradedeal | trumpadmin | tariffs

EU Still Eyes Trade Deal With US This Week

By    |   Monday, 07 July 2025 04:21 PM EDT

The European Union is "fully geared" to reach a trade agreement in principle with the U.S. by Wednesday, the original deadline imposed by President Donald Trump to avoid higher tariff rates first imposed by him in April, The Wall Street Journal reported Monday.

The White House said Monday that Trump is signing an executive order pushing back the July 9 deadline to Aug. 1.

Treasury Secretary Scott Bessent said Sunday that talks with the EU were making "very good progress" despite being "very slow in coming to the table." EU spokesman Olof Gill, too, said "substantial progress" has been made toward reaching a bare-bones trade deal, the Journal reported.

"We're fully geared up to get an agreement in principle by Wednesday, and we're firing on all cylinders to that effect," Gill said.

EU Trade Commissioner Maros Sefcovic traveled to Washington last week to lead meetings with U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick. Gill said European Commission President Ursula von der Leyen had a "good exchange" in a phone call with Trump on Sunday.

Reuters reported Monday that the EU would not be receiving one of 12 letters from the Trump administration setting out higher tariffs. Trump said over the weekend the "take it or leave it" letters would be sent Monday. South Korea and Japan received notices that 25% tariffs would be imposed on their exports beginning Aug. 1 if a deal isn't reached.

The European Commission is said to be OK with a baseline tariff of 10%, provided that there is relief in certain sectors, Newsweek reported. Germany and Italy are in favor of accepting those terms, while France and Spain are among countries taking a tougher stance, Politico reported.

Mark Swanson

Mark Swanson, a Newsmax writer and editor, has nearly three decades of experience covering news, culture and politics.

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The European Union is "fully geared" to reach a trade agreement in principle with the U.S. by Wednesday, the original deadline imposed by President Donald Trump to avoid higher tariff rates first imposed by him in April, The Wall Street Journal reported Monday.
eu, tradedeal, trumpadmin, tariffs
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2025-21-07
Monday, 07 July 2025 04:21 PM
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