19 hours ago
US Trade Talks Enter Final Stretch as Trump Tariffs Loom
Welcome to the Brussels Edition, Bloomberg's daily briefing on what matters most in the heart of the European Union.
Work by EU officials continued over the weekend to try and secure a trade deal with the US as the July 9 deadline nears. Emboldened by his recent economic policy victory in Congress, President Donald Trump said he 'signed some letters' warning governments of the impending tariffs, which will 'go out on Monday.' Treasury Secretary Scott Bessent added that countries receiving letters will face the most extreme US tariffs — some, including those targeting the EU, as high as 50% — starting Aug. 1. Last week, member states briefed on the status of negotiations were told that a technical agreement in principle was close, while some EU carmakers and capitals were pushing for a deal that would bring tariff relief in return for increased investment in the US. As the recent Canadian experience showed, surprises can never be completely ruled out.
