The EU chief says he is ready to move “quickly” to agree to a trade deal with the US, but the block will need to agree to a “good deal” until July 9th.
The European Commission president Ursula von der Leyen said he received a “good call” with US President Donald Trump on Sunday – he expressed dissatisfaction with the pace of negotiations with the EU and threatened to impose a 50% tariff.
Trump announced 20% tariffs on most EU goods last month, but later halved to 10% until July 8th to allow time for negotiations.
Von Der Leyen said Europe is “prepared to move forward with a prompt and decisive approach to consultations” and “we will need time until July 9th to reach a significant deal.”
In a statement to a White House reporter on Friday afternoon before talks with the Bullock, Trump said he plans to raise tariffs on all goods sent to the US by June 1st from the EU to 50%.
Later on Friday, EU trade chief Malossyv Chovichchi reaffirmed the bloc’s commitment to ensuring fair trading.
He said following a call with US trade representative Jamieson Greer and Commerce Secretary Howard Lutnick.
He continued: “EU-US trade is unparalleled and must be guided by mutual respect rather than threats. We are ready to defend our interests.”
Trump has long criticised what he considers as an unfair trade ties with the EU, despite the fact that Bullock is one of Washington’s biggest trading partners. Last year, the EU exported more than $600 million (528 billion euros, £443 million) to the United States, importing $370 billion worth of dollars, according to US government data.
The President has specifically raised concerns about the trade in automobiles and agricultural products. Some tariffs were suspended earlier this year to allow negotiations, but 25% collection on EU steel and aluminum is in force.
European leaders continue to warn against escalation. France and Germany are seeking diplomatic solutions, emphasizing tariffs harm both economies.
The EU has suspended its own measures against the US.
It said it would introduce a 25% tariff on 18 billion euros ($200 billion, £15 billion) of US goods coming to Europe, but this was put on hold.
BLOC is currently also discussing additional measures against the US import import of 95 billion euros into the US.
