US, EU agree to postpone tariff deal deadline

DW (English)

The US and the EU have extended trade negotiations to July 9 under efforts to avoid steep tariffs. As discussions continue, both sides aim to protect critical trade flows and economic stability.

Transcript

00:00European businesses can breathe a sigh of relief, at least for now.

00:06U.S. President Donald Trump has agreed to give Europe more time to negotiate a trade agreement

00:12to avoid tariffs of 50 percent on exported goods.

00:17European Commission President Ursula von der Leyen is optimistic a deal can be brokered by the new July 9 deadline,

00:25stating on X that Europe is ready to act swiftly.

00:29Failing to reach consensus would be devastating for both economies.

00:33The U.S. is heavily dependent on imports from the EU.

00:37In 2022, it imported $720 billion worth of European products,

00:44more than what it imported from important trading partners China, Mexico, Canada and Japan.

00:51Currently, EU goods and services exports to the U.S. are hit with a 10 percent tax.

00:58Steel, aluminum and cars, a 25 percent levy.

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