Ursula von der Leyen has announced that the EU is working with the Trump administration on a trade deal, but is also preparing for different scenarios.

European Commission President Ursula von der Leyen says the European Union is working closely with President Donald Trump's administration to reach a trade deal while upholding its principles and defending its interests. Trump signed an executive order extending the deadline for reciprocal tariffs until Aug. 1. Although he has informed other trading partners of the tariff increase, EU sources confirmed that the Union has not received such notification.