Trade talks between the US and the EU are crucial, with the risk of tariffs of up to 50% if an agreement is not reached by July 9.

The US-EU trade relationship, which makes up 30% of global trade, is at a critical juncture with a July 9 deadline to avoid reciprocal tariffs. In 2024, trade reached €1.68 trillion and the EU had a surplus of €50 billion. European Commission President Ursula von der Leyen acknowledged the difficulty of reaching a detailed agreement, aiming for an agreement in principle. EU trade commissioner Maros Sefcovic highlighted the progress made in the negotiations.