The EU has received a trade deal offer from the United States
Kyiv • UNN
The European Commission is ready to sign a trade agreement with the US but is considering the option of failure. Von der Leyen has received updated proposals on tariffs and promises to defend EU interests.
The Head of the European Commission, Ursula von der Leyen, following negotiations with leaders at the EU summit in Brussels, stated that Europe is ready to sign a trade agreement with the USA, but is considering the option of failure of any agreements. This is reported by The Guardian, writes UNN.
Details
As the publication writes, von der Leyen said that literally on Thursday she received an updated version of proposals from the US regarding tariffs. The President of the European Commission promised to defend the interests of the EU and emphasized that "all options remain on the table."
The European Commission conducts trade negotiations on behalf of the 27 EU member states but wanted political guidance on how to proceed in critical economic talks with the White House. Trump has threatened to impose 50% tariffs on all EU goods from July 9 if the parties do not reach an agreement. Most EU goods are already subject to a 10% tariff, with a 25% rate for cars and car parts, and 50% for steel and aluminum.
Von der Leyen also suggested the possibility of a "reset" of the World Trade Organization (WTO) amid fears that the global trading system is collapsing due to trade wars and bilateral agreements. She stated that the Asia-Pacific bloc CPTPP, which includes Great Britain, is interested in "structured cooperation" with the EU, which is a mutual desire. "You can consider this the beginning of the renewal of the WTO... to show the world that free trade with many countries is possible based on rules," she said.
As Trump's deadline approached, disagreements began to emerge between Germany and France regarding the approach to negotiations with the US.
German Chancellor Friedrich Merz stated that a quick and simple agreement is better than a "slow and complex" one. The new center-right chancellor is under pressure from German automakers and other exporters, some of whom believe that even an asymmetric agreement – meaning higher US tariffs on European goods – is better than no agreement at all.
French President Emmanuel Macron argues that agreeing to unequal trade terms will harm Europe's long-term competitiveness. One EU diplomat denied that there was a split between member states but noted: "If we agree to 10% - how long will that last?", implying that Trump might open a new front in the trade war or that this would affect negotiations with other partners. "Many member states understand that this is not a single game. Perhaps this will affect how India or China approach us."
Recall
The US officially signed a trade agreement with China. President Donald Trump also announced plans for a similar agreement with India.