BRUSSELS, Belgium: After satisfying Donald Trump’s calls for Europe to ramp up defense spending in NATO, EU leaders in Brussels turned Thursday to the next big challenge ahead: how to seal a trade deal with the US leader.
Time is running out. The European Union has until July 9 to reach a deal or see swingeing tariffs kick in on a majority of goods, unleashing economic pain.
The European Commission, in charge of EU trade policy, has been in talks with Washington for weeks, and the leaders of Europe’s two biggest economies France and Germany on Thursday urged Brussels to move fast in search of a deal.
“France is in favor of reaching a quick agreement, we don’t want it to drag on forever,” President Emmanuel Macron told reporters after summit talks involving the bloc’s 27 leaders and EU chief Ursula von der Leyen.
While Macron said European nations “do not want a deal at any cost,” Germany’s chancellor has signalled he wants to close a deal fast — even if it means an unbalanced outcome with some level of US tariffs on EU goods.
