EU received latest trade proposal from US, von der Leyen says
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European Commission president Ursula von der Leyen said the latest US proposal on tariffs is being assessed.
PHOTO: REUTERS
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BRUSSELS – European Commission president Ursula von der Leyen said on June 26 the European Union had received the “latest US document” for further negotiations on tariffs but did not reveal details of Washington’s demands.
“All options remain on the table,” she told reporters following an EU summit in Brussels.
“We are assessing it,” she said of the US proposal. “Our message today is clear. We are ready for a deal. At the same time, we are preparing for the possibility that no satisfactory agreement is reached.”
She noted that the EU would “defend the European interest as needed”.
The US and EU have held a number of negotiating sessions in recent weeks, but the Trump administration's attention has shifted to the conflict over Iran's nuclear programme trade truce with China
A July 9 deadline
Under his “reciprocal” tariffs announced in April, the temporary 10 per cent additional duty on EU imports would double to 20 per cent if no deal is reached by the deadline.
US Treasury Secretary Scott Bessent has said that deadlines for some countries negotiating in good faith could be extended.
European officials are increasingly resigned to a 10 per cent rate on “reciprocal” tariffs being the baseline in any trade deal between the US and the EU, sources familiar with the talks have told Reuters.
But the EU also is saddled with Mr Trump’s 25 per cent tariffs on autos, steel and aluminium and could face additional sectoral duties on semiconductors and pharmaceuticals.
French President Emmanuel Macron on June 26 told reporters that Paris wants a quick and pragmatic trade deal with the US, but that his country would not accept terms that were unbalanced.
If the US baseline tariff rate of 10 per cent remained in place, then Europe’s response would have to have an equivalent impact, he added.
The European Commission, led by Dr von der Leyen, sets trade policy for France and other EU countries. REUTERS
