Trump: 50% chance of a deal with the EU

Trump noted that the EU is willing to make a deal, while the European Commission stated yesterday that “a compromise with the U.S. is near.”

However, EU member states are preparing to impose retaliatory tariffs on €93 billion worth of U.S. goods if the negotiations fail. The EU’s primary goal is to prevent the 30% import tariff that Trump plans to implement on August 1.

Although both sides are reportedly moving toward a framework similar to the one reached with Japan, the White House remains cautious. It has also been reported that the EU is not as willing as Japan to commit to investments in the U.S.