US President Donald Trump is attending a press conference at the White House in Washington, DC, the United States, on June 27, 2025.
Yossung Xinhua News Agency Gety pictures
All eyes are holding talks between the United States and the European Union, which has not yet reached a commercial deal with only days to go before Washington’s tariff became fully valid.
If commercial partners fail to reach an agreement by July 9-when US President Donald Trump ends in the so-called mutual definitions-the European Union imported goods can reach up to 50 %. Revenge measures of the European Union targeting a wide range of American goods, which were also temporarily developed, can also be followed, shortly after that.
The commercial relationship of the United States and the European Union is one of the most important relationship in the world, as it represents about 30 % of the trading of global goods, according to European Council. Medical products, medicines, cars on roads and petroleum products are some of the best goods in circulation.
The European Council said that in 2024, the value of trade between the two partners was about 1.68 trillion euros ($ 1.98 trillion) when considering both goods and services.
The European Union recorded a surplus of 198 billion euros, when it comes to commodities, but it recorded a deficit of about 148 billion euros in the circulation of services – which means that the mass in general had a trade surplus of about 50 billion euros in 2024.
Trump has been repeatedly exposed to the commercial relationship between Washington and Brussels, which indicates that it is unfair and accuses the European Union of benefiting from the United States
Late Friday, the US president said that he signed 12 letters by showing “taking it or leaving it” on the definitions, but it was not clear whether the European Union was one of the beneficiaries.
Summary negotiations
The US-European Union negotiations seem to be difficult and slow in obtaining the land. Sources told CNBC earlier this week that the bare political deal that illuminates the details may be the best hope for the European Union.
The European Commission’s President, Ursula von der Lin, seemed to repeat the opinion on Thursday.
“What we aim is is an agreement in principle,” she said, adding that a detailed agreement was “impossible” to reach it during its postponement period for 90 days.
Von Der Leyen also repeated that if an agreement is not reached, “all tools are on the table.”
Meanwhile, European Trade Commissioner Marus Sevkovic said in A. Social media yet He said on Friday that he had a “fruitful” week in Washington, DC, meeting various US officials.
“The work continues. Our goal remains unchanged: a good and ambitious commercial deal,” he said.
US Treasury Secretary Scott Payett seemed more frequent on the possibilities of a commercial agreement concluded before the deadline.
“We will see what we can do with the European Union,” CNBC told CNBC.
Is a deal to come?
Experts speaking to CNBC seemed skeptical about the short -term probability of a full deal.
Anthony Gardner, the former US ambassador to the European Union, told “Squawk Box Euro” from CNBC on Friday that Von der Lin “was not surprised, excluding the possibility of a fully comprehensive agreement.
“The detailed agreement is what you say: a detailed. It can coincide with many pages, (because) full commercial agreements are thousands of pages, but what we can see is the heads of terms such as those that the United States signed with the United Kingdom.”
“This is possible, but I don’t think the actual content will be similar,” Gardner added.
Carsten Nickel, Managing Director of TENEO, went forward by saying that a wide agreement was “the best result” that the European Union could achieve.
He told CNBC over the phone, explaining that this initial deal should aim to win more conversations and include the European Union’s acceptance of the 10 % foundation tariff for the United States, explaining that this can then allow more talks on elements such as sectoral exemptions.
However, the uncertainty will remain, even if the mediation in such an arrangement, Nikal suggested.
“We will be in a world where, whatever the agreement that has been creative before will remain the issue of intense bargaining and we will remain at risk of the United States to change its opinion, lose patience, look at other directions, etc.”.
He does not see the bloc that imposes reprisals unless Trump was the slaps of full definitions next week.
“Even then, I think the European Union will take carefully,” Nickel concluded.
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2025-07-05 09:42:00
