The U.S. and European Union are running out of time to strike a deal on trade tariffs — and analysts say several key sticking points could make an agreement impossible.
Negotiations have been slow since both the U.S. and EU temporarily cut duties on each other until July 9. If a deal is not agreed by then, full reciprocal import tariffs of 50% on EU goods, and the bloc’s wide-spanning countermeasures are set to come into effect.
“We’re talking, but I don’t feel that they’re offering a fair deal yet,” U.S. President Donald Trump told reporters Tuesday, further dashing hopes of an imminent agreement.
So what’s holding things up between the two sides, which had a relationship worth 1.68 trillion euros ($1.93 trillion) in 2024?
One bone of contention flagged by experts was the EU’s regulation of especially Big Tech companies. The bloc has faced regular criticism from the U.S. after imposing landmark rules on tech giants regarding transparency, competition and moderation.
