The EU and the US are negotiating a trade deal to avoid the imposition of 50% tariffs on EU exports. The EU is willing to accept Trump's proposed 10% tariffs, provided there are concessions regarding a 25% car tariff. Trump's ultimatum threatens tariffs effective July 9, and both sides aim to finalize agreements quickly to benefit their economies. EU trade chief Sefcovic plans meetings with US officials to discuss a potential standstill clause, while German Chancellor Merz advocates for a swift resolution to alleviate high tariffs affecting businesses.
The EU is willing to accept Trump's 10% blanket tariffs in exchange for an extension in talks and possible concessions on a 25% car tariff.
Trump has threatened to impose 50% tariffs on all EU goods from 9 July unless the two sides reach a deal.
Sefcovic is seeking a standstill clause to guarantee no new tariffs during an extension period.
Merz emphasized the need for a quick deal to remove the burden of tariffs on businesses, advocating for a simple solution.
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