EU Seeks Outline Trade Pact With U.S. Before July 9 Tariff Deadline

European Commission President Ursula von der Leyen said the European Union is aiming for an “agreement in principle” with the United States before a July 9 deadline set by President Donald Trump but acknowledged that a fully detailed accord is impossible in the time available. Speaking in Aarhus, Denmark, she cited the breadth and complexity of the €4 billion-a-day trans-Atlantic trade relationship and the fact that negotiations have been under way for only three months.

Trump has warned he will raise U.S. import duties to as much as 50 % on most EU goods if no deal is reached when the current tariff truce expires next week. Since April 9 the United States has already been charging a baseline 10 % tariff on EU exports, with higher rates on cars and steel. Von der Leyen said Brussels prefers a negotiated settlement but is preparing a “rebalancing” package of counter-tariffs should talks fail.

EU Trade Commissioner Maroš Šefčovič is in Washington this week to continue discussions with U.S. counterparts. Von der Leyen indicated the bloc is willing to follow the model of the recent U.K.–U.S. framework pact, which set broad parameters while leaving sector-specific issues to subsequent rounds. "A deal in detail in 90 days is impossible, but a framework is within reach," she said.