The EU and US are close to a "framework" trade deal to prevent Donald Trump's threatened 50% tariffs on EU exports, due by July 9. The EU is reportedly willing to accept 10% blanket tariffs in exchange for an extension and potential concessions on 25% car tariffs, with key meetings ongoing in Washington.
EU closing in on ‘framework’ trade deal with US to avoid Trump’s 50% tariffs
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TL;DR: Key points with love ❤️The EU and US are close to a "framework" trade deal to prevent Donald Trump's threatened 50% tariffs on EU exports, due by July 9. The EU is reportedly willing to accept 10% blanket tariffs in exchange for an extension and potential concessions on 25% car tariffs, with key meetings ongoing in Washington.
Trending- 1 Early April: Trump imposed tariffs on 60+ countries, EU delegation received "massive tome" of US grievances.
- 2 Last Wednesday (prior to July 3): US sent latest proposal to EU leaders.
- 3 This week: Ursula von der Leyen's chief of staff and trade director general briefed EU ambassadors.
- 4 Wednesday (prior to July 3): German Chancellor Friedrich Merz reiterated calls for a "quick deal."
- 5 Thursday (July 3): Maroš Šefčovič granted unexpected meeting with Howard Lutnick, also meeting Jamieson Greer and Scott Bessent.
- 6 Friday (July 4): Potential deal announcement for Independence Day.
- 7 Friday (July 4): Šefčovič expected to brief European ambassadors.
- 8 Next Wednesday (July 9): Trump's self-imposed deadline for 50% tariffs.
- Potential avoidance of 50% tariffs on EU goods
- Possible acceptance of 10% blanket tariffs by EU
- Potential concessions on 25% car tariffs
- Ongoing trade negotiations
What: The EU and US are nearing a "framework" trade deal to avoid 50% tariffs on EU exports. The EU is willing to accept 10% tariffs in exchange for an extension and possible concessions on car tariffs.
When: Talks ongoing; deadline is next Wednesday (July 9); Meetings on Thursday (July 3, 2025).
Where: Washington (United States), Berlin (Germany).
Why: To avert Donald Trump's threatened 50% tariffs on all EU goods, which would be imposed from July 9 unless a deal is reached.
How: High-level talks between EU and US officials, including Maroš Šefčovič, Howard Lutnick, Jamieson Greer, and Scott Bessent, aiming for a narrowly focused agreement in principle. German Chancellor Friedrich Merz advocated for a quick deal.