EU Ready for Trade Deal with US, Warns of Retaliation

European Commission president Ursula von der Leyen has stated that the EU is prepared for a trade deal with the United States but is ready to retaliate with countermeasures if no satisfactory agreement is reached. Negotiations are ongoing, with preparations for a potential lack of agreement. The US is set to lift a pause on higher tariffs on several countries on 9 July. The EU is negotiating to exempt some sectors from tariffs while accepting 10% duties on other goods. If no deal is reached by next week, EU imports could face higher tariffs. The goal is to reach an agreement in principle by 9 July due to the significant trade volume between the EU and the US, valued at €1.5 trillion. Detailed agreements within the 90-day window are deemed impossible. German Chancellor Friedrich Merz emphasizes the importance of a swift EU deal with Washington for key industries. The EU is prepared with counter-tariffs on US goods worth around €100 billion if talks do not yield positive results.