A final EU-US trade deal is deemed “impossible” before July 9, prompting both sides to pursue a less detailed “agreement in principle,” according to European Commission president Ursula von der Leyen. As negotiations continue to avert Donald Trump’s proposed 50% tariffs, EU trade commissioner Maroš Šefčovič is in Washington to push for a deal, with both parties considering reciprocal tariffs and commitments to increase US goods purchases.
Explain It To Me Like I’m 5: The leaders of the EU and the US are trying to make a quick agreement about trade before a big deadline, but they can’t finish a full deal in time, so they are settling for a simpler plan to avoid big taxes on goods.
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