AARHUS: The EU is “ready for a deal” with the United States, European Commission president Ursula von der Leyen said Thursday before negotiators meet in Washington before a July 9 deadline.
EU trade chief Maros Sefcovic is in Washington and due to meet his US counterparts later Thursday.
The commission, leading trade policy for the 27-nation bloc, has until Wednesday next week to strike an agreement or see President Donald Trump’s sweeping tariffs snap back.
If no deal is reached, the default tariff on EU imports is expected to double to 20 percent or even higher — Trump having at one point threatened 50 percent.
“We are aiming at the ninth of July,“ von der Leyen told reporters in Aarhus, Denmark.
“It’s a huge task because we have the largest trade volume globally between the European Union and the United States,“ worth 1.5 trillion euros ($1.8 trillion).
“What we are aiming at is an agreement in principle,“ she added.
The size of trade between the two transatlantic allies meant an agreement in detail was “impossible” to conclude in the 90-day window ending next week, she added.
Von der Leyen’s comments came as German Chancellor Friedrich Merz reiterated his call for a “quick and simple” EU deal with Washington — a matter of necessity for key industries from pharmaceuticals to engineering and automobiles.
The EU chief also made it clear that Brussels would not hold back from taking countermeasures to protect the European economy if talks fell short.
“We want a negotiated solution, but you all know that at the same time, we’re preparing for the possibility that no satisfactory agreement is reached,“ she said.
“This is why we consulted on a rebalancing list, and we will defend the European interest as needed,“ she added.
“In other words, all the interim instruments are on the table.”
The EU has prepared counter-tariffs on US goods worth around 100 billion euros if talks yield no positive outcome. – AFP
