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EU Trade Deal with U.S. Declared 'Impossible' by July

7/4/2025

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Summary

Story summary

European Commission President Ursula von der Leyen declared a comprehensive trade deal with the U.S. is "impossible" by July 9.
The EU seeks a less detailed "agreement in principle" to prevent potential 50% tariffs on its goods.
Negotiations are complicated by transatlantic trade intricacies and varying positions among EU member states.
The U.S. has maintained a 10% baseline tariff since April, with possible increases if no agreement is achieved.

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Story summary

European Commission President Ursula von der Leyen declared a comprehensive trade deal with the U.S. is "impossible" by July 9.
The EU seeks a less detailed "agreement in principle" to prevent potential 50% tariffs on its goods.
Negotiations are complicated by transatlantic trade intricacies and varying positions among EU member states.
The U.S. has maintained a 10% baseline tariff since April, with possible increases if no agreement is achieved.