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EU Faces Crucial Choice: Swift U.S. Trade Deal or Strategic Patience
European Union leaders are meeting in Brussels today to determine whether to accept a fast-tracked trade agreement with the United States—despite its tough terms—or hold out for a more balanced deal, even at the risk of escalating tensions.
With a July 9 deadline set by President Donald Trump, the pressure is mounting. The U.S. currently imposes a 10% tariff on most EU goods, with even steeper rates—up to 50%—on steel, aluminum, and automobiles. EU officials fear these could rise further if no agreement is reached.
German Chancellor Friedrich Merz has voiced strong support for a quick resolution, emphasizing the need to avoid a deeper trade conflict. “It is in everyone’s interest that the trade conflict with the United States does not escalate further,” Merz told parliament.
The European Commission has proposed eliminating tariffs on industrial goods and increasing EU imports of U.S. liquefied natural gas and soybeans. However, Washington has shown little interest in these terms, focusing instead on regulatory issues the EU is reluctant to change.
Some EU countries are prepared to accept the 10% baseline tariff to protect their industries, while others advocate for retaliatory measures. The bloc has already approved tariffs on €21 billion worth of U.S. goods and is debating further actions targeting up to €95 billion more.
As leaders weigh their options, the outcome of this summit could shape transatlantic trade relations for years to come.
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