Headlines
EU received 'latest' trade proposal from US, von der Leyen says
Published by Global Banking & Finance Review®
Posted on June 26, 2025
2 min readLast updated: January 23, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on June 26, 2025
2 min readLast updated: January 23, 2026
The EU has received a new trade proposal from the US, as a tariff-reducing deal deadline approaches. EU officials are assessing the proposal, with potential tariff increases looming.
By Philip Blenkinsop
BRUSSELS (Reuters) -European Commission President Ursula von der Leyen said on Thursday the EU had received the "latest U.S. document" for further negotiations on tariffs but did not reveal details of Washington's demands.
"All options remain on the table," she told reporters following a EU summit in Brussels.
"We are assessing it," von der Leyen said of the U.S. proposal. "Our message today is clear. We are ready for a deal. At the same time, we are preparing for the possibility that no satisfactory agreement is reached."
She said that the EU would "defend the European interest as needed."
The U.S. Trade Representative's office did not immediately respond to a request for comment on the latest U.S. proposal.
The U.S. and EU have held a number of negotiating sessions in recent weeks, but the Trump administration's attention has shifted to the conflict over Iran's nuclear program and keeping a trade truce with China on track.
A July 9 deadline set by U.S. President Donald Trump for the EU and other countries to reach a tariff-reducing deal with the U.S. is fast approaching.
Under Trump's "reciprocal" tariffs announced in April, the temporary 10% additional duty on EU imports would double to 20% if no deal is reached by the deadline.
U.S. Treasury Secretary Scott Bessent has said that negotiating deadlines on some countries negotiating in good faith could be extended.
European officials are increasingly resigned to a 10% rate on "reciprocal" tariffs being the baseline in any trade deal between the United States and the European Union, sources familiar with the talks have told Reuters.
But the EU also is saddled with Trump's 25% tariffs on autos, steel and aluminium and could face additional sectoral duties on semiconductors and pharmaceuticals.
Separately, French President Emmanuel Macron on Thursday told reporters that France wants a quick and pragmatic trade deal with the U.S., but that his country would not accept terms that were unbalanced.
If the U.S. baseline tariff rate of 10% remained in place then Europe's response would have to have an equivalent impact, he added.
The European Commission, led by von der Leyen, sets trade policy for France and other EU countries.
(Reporting by Philip Blenkinsop; Writing by Julia Payne; Editing by Benoit Van Overstraeten and Jamie Freed)
Ursula von der Leyen stated that the EU received the 'latest U.S. document' for further negotiations and emphasized that all options remain on the table.
A deadline set by U.S. President Donald Trump is approaching on July 9 for the EU and other countries to reach a tariff-reducing deal with the U.S.
If no deal is reached by the deadline, the temporary 10% additional duty on EU imports could double to 20% under Trump's 'reciprocal' tariffs.
French President Emmanuel Macron expressed that France desires a quick and pragmatic trade deal with the U.S., but will not accept unbalanced terms.
The EU is currently facing Trump's 25% tariffs on autos, steel, and aluminum, along with potential additional duties on semiconductors and pharmaceuticals.
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