EU weighs fast-track US trade deal as July 9 tariff deadline nears, mulls digital tax and countermeasures
EU leaders are leaning towards a swift trade deal with the US, despite potentially unfavorable terms, to avoid escalating trade tensions. Facing existing tariffs on steel, aluminum, cars, and other goods, with threats of further increases, the EU prefers a quick resolution followed by rebalancing measures. Germany's Chancellor Merz expressed support for the European Commission's cautious negotiations, hoping for a solution by early July. While the US has a trade deal with Britain, the 10% tariff remains, setting a precedent for other potential agreements.
