EU Ready to Make a New Deal to Avoid a Trade War

The European Union (EU) is prepared to make a deal with the US by August 1, despite concerns about the potential outcome. Europe is “preparing for the worst,” Bloomberg writes, citing sources.

In early July, former President Donald Trump said that the United States would impose 30% tariffs on EU products from August 1. At the same time, previously imposed sectoral taxes will remain in force. Officials in Brussels are ready to accept “an unbalanced agreement in favor of the US” if this becomes necessary to break the deadlock, the agency notes, citing a source.

Brussels is expected to prepare an action plan in case an agreement with Washington fails. However, Bloomberg notes that “any retaliatory measures would further deepen the serious rift in transatlantic trade.”

Trump announced in early April 2025 that tariffs would increase on imports from 185 countries. The minimum tax of 10% was to come into effect on April 5, and individual tariffs for individual countries on April 9. However, Trump postponed all these changes for 90 days to allow for negotiations on trade agreements during this period. On the night of July 8, the US President extended the postponement until August 1.

According to the Financial Times, Trump insists on imposing tariffs of at least 15-20% on EU goods.