EU says it’s ‘ready’ to make a trade deal with Trump as China finalizes its own

The European Union has confirmed it’s now open to signing a trade deal with President Trump, right as the United States locks in a separate deal with China. On Thursday, during a summit in Brussels, EU officials said a new American proposal had been submitted and shared with European Commission President Ursula von der Leyen, who then pushed it to EU leaders. The offer, described by officials as just an “outline” with “a couple of points,” showed up while the bloc scrambles to avoid steep new tariffs that Trump has set for July 9. The US president had previously warned that if no deal is reached by that date, tariffs would go up. According to Bloomberg, the China deal was confirmed by Commerce Secretary Howard Lutnick, who said during an interview that “that deal was signed and sealed two days ago.” He didn’t elaborate on what’s in the document. Just hours earlier, Trump himself told reporters at the White House, “We just signed with China yesterday,” but offered no explanation. The agreement is based on trade talks that happened last month in Geneva, though no final text has been released publicly. White House pushes deadline but says Trump can act unilaterally Karoline Leavitt, the White House Press Secretary, said on Thursday that Trump’s July 8 and 9 deadlines for restoring full reciprocal tariffs aren’t fixed in stone. “Perhaps it could be extended, but that’s a decision for the president to make,” Leavitt told reporters. She made it clear that even if countries refuse to sign a deal by the deadline, Trump still has options. “The president can simply provide these countries with a deal,” she said. “And that means the president can pick a reciprocal tariff rate that he believes is advantageous for the United States, and for the American worker.” Leavitt’s statement triggered an immediate rise in stocks during Thursday’s session, with investors reacting to the idea that the president might give countries more time. This comes after Trump rolled out reciprocal tariffs in early April on nearly all imports. A 90-day pause was granted for any tariff amounts above 10%, and that grace period runs out on July 8. In late May, Trump went a step further. He threatened to slap a 50% tariff on all goods coming from the European Union. These countries were already hit with the April tariffs. But after von der Leyen asked for more time to finalize a deal, Trump agreed to delay the extra tariff until July 9. That’s the exact window EU leaders are trying to navigate right now with the fresh US proposal. Trump admin expects deals after tax bill clears Congress With only two deals, China and the United Kingdom, done out of a goal of 90 in 90 days, the White House is far behind its own timeline. Both agreements have been described as incomplete frameworks with no final terms released. One deal that keeps getting mentioned is with India, but that hasn’t happened yet. Kevin Hassett, Director of the National Economic Council, told Fox Business this week, “We know that we’re very, very close to a few countries.” He added that more agreements are expected once Congress passes Trump’s large-scale tax-and-spending bill, which the president wants signed by July 4. Hassett said, “I think you’re going to see a sequence of trade bills” starting from that date. Back in June, Treasury Secretary Scott Bessent testified before the House Ways and Means Committee, saying it’s “highly likely” that Trump will extend the tariff pause beyond July 8 for countries negotiating in good faith. Stephen Miran, who chairs the White House Council of Economic Advisers, told Yahoo Finance the same thing: “I don’t see why [tariff] rates would snap back higher” if talks are ongoing and serious. Still, none of these statements come with hard guarantees. What’s happening is a calculated game of pressure. The administration’s current stance is that Trump can impose or extend tariffs unilaterally, especially if he believes doing so benefits US industries. With China’s deal already completed and EU leaders now reviewing a last-minute American proposal, the heat is rising fast. Negotiations are now running on a tight clock. The EU knows exactly what’s coming if there’s no agreement by July 9. Trump’s team has already drawn the line. He’s offered a proposal. He’s closed with China. And if no other country wants to sit down and finalize something? The White House says he’ll simply impose his own terms. KEY Difference Wire helps crypto brands break through and dominate headlines fast

Source: Cryptopolitan