As the extended deadline for the new US tariffs approaches, the European Union has been intensifying its efforts to strike a balanced trade agreement with Washington. In her speech at the European Parliament plenary debate, Ursula von der Leyen, president of the European Commission, has assured EU lawmakers that, while discussions with the US continue in good faith, the bloc is preparing for every possible scenario to safeguard its interests.
“We stick to our principles, we defend our interests, we continue to work in good faith, and we are getting ready for all scenarios,” she said.
The US has postponed its previously announced deadline for imposing country-specific reciprocal tariffs, extending it from July 9 to August 1, as SteelOrbis previously reported. This postponement provides the EU and US with a brief but critical window to finalize a deal and avoid costly trade disruptions.
In addition, Olof Gill, EU Commission spokesperson, has stated that the commission is consulting with EU member states and aims to reach an agreement that minimizes potential damage before August 1. Mr. Gill noted that an agreement in principle would provide some sort of certainty for the general trading outlook.