With just a week left before the U.S. imposes new tariffs, EU Commission President Ursula von der Leyen has called for a meeting with President Trump. The meeting, set in Scotland, aims to discuss transatlantic trade relations. Trump remains skeptical about reaching an agreement, while the EU prepares countermeasures if no deal is struck.
EU Calls Urgent Meeting with Trump as Tariff Deadline Looms
EU Calls Urgent Meeting with Trump as Tariff Deadline Looms
With a week remaining before the deadline for the U.S.'s new trade tariffs, EU Commission President Ursula von der Leyen has called for a meeting with Trump this weekend. However, the president seems only moderately hopeful about reaching an agreement.
"I would say we have a 50/50 chance, maybe less," Trump stated.
On Friday, U.S. President Donald Trump gave a somewhat skeptical statement about the chances of securing a tariff agreement with the EU before the deadline expires:
"I would say we have a 50/50 chance, maybe less," Trump said at the White House, according to CNN.
If the EU and the U.S. do not reach an agreement before August 1, Trump has threatened to impose 30% tariffs on goods from the EU.
Currently, tariffs of 25% already apply to certain cars and car parts from the union.
Golf and Negotiations with the EU
On Friday evening, EU Commission President Ursula von der Leyen declared that she and Trump have decided to meet.
"After a good phone call with the U.S. president, we have agreed to meet in Scotland on Sunday to discuss transatlantic trade relations and how we can keep them strong," she wrote on X.
Trump is visiting Scotland for four days, partly to check on two golf clubs he owns in the country.
EU Ready with Counterattack
As the deadline approaches, EU leaders have prepared a counterattack if an agreement is not reached. On Thursday, a comprehensive package of counter-tariffs on a wide range of U.S. goods was approved, writes CNBC.
According to a source to CNBC, the tariffs could reach 30%—the level the U.S. has threatened against the EU. In total, the EU's countermeasures would cost 93 billion euros, affecting food, clothing, and industrial goods.
Global Summit in Stockholm
Meanwhile, the U.S. continues its tariff discussions with countries around the world. Next week, the White House plans to send letters to about 200 countries, announcing new tariffs, according to CNN.
On Monday and Tuesday, parts of the Trump administration will also come to Stockholm to discuss tariff agreements with Chinese representatives.