Ursula von der Leyen, President of the European Commission, has stated that the EU stands ready to negotiate a trade agreement with the United States, but cautioned that Brussels is prepared to implement a series of countermeasures if “no satisfactory agreement is made.”
Addressing an audience in Aarhus, Denmark, at the opening of the Danish EU presidency, Ms. von der Leyen remarked: “The negotiations with the United States are currently ongoing.”
“As we speak, [EU trade] Commissioner Šefčovič is in Washington today. I want to emphasize that we are ready to reach a deal.”
“We seek a negotiated solution, but at the same time, we are preparing for the possibility that a satisfactory agreement may not be reached.”
Reports indicate that the EU is in discussions to maintain certain sectors free from tariffs.
The suspension of elevated tariffs imposed by the US on several countries is set to end on 9 July.
The EU is said to be negotiating to preserve some sectors from tariffs while accepting 10% duties on other products.
The commission has until next Wednesday to finalize an agreement to avoid triggering US President Donald Trump’s extensive tariffs.
If an agreement is not secured, it is anticipated that the default tariff on EU imports could double to 20% or potentially exceed that, with Mr. Trump previously suggesting rates as high as 50%.
“We are targeting the 9th of July,” Ms. von der Leyen stated.
Watch: EU warns of retaliation if US trade deal not reached
The commission president conveyed that this is “a substantial challenge since we have the highest trade volume worldwide between the European Union and the United States,” amounting to €1.5 trillion.
“Our goal is to reach an agreement in principle,” she added.
Given the scale of trade between the two transatlantic partners, reaching a detailed agreement was deemed “impossible” within the 90-day deadline ending next week, she noted.
Ms. von der Leyen’s remarks coincided with German Chancellor Friedrich Merz’s reaffirmation of his appeal for an “expeditious and straightforward” EU agreement with Washington, essential for vital sectors including pharmaceuticals, engineering, and automobiles.
The EU leader also made it clear that Brussels would not hesitate to take countermeasures to safeguard the European economy if negotiations do not meet expectations.
“We want a negotiated solution, but you all understand that we are simultaneously preparing for the potential outcome of no satisfactory agreement,” she stated.
“This is why we consulted on a rebalancing list, and we will protect European interests as necessary,” she added.
“In other words, all interim measures are on the table.”
Read more: Minister ‘hopeful rather than confident’ about US-EU tariff deal
The EU has planned counter-tariffs on US goods totaling approximately €100 billion if the negotiations do not result in a favorable outcome.
Tánaiste Simon Harris mentioned yesterday that US tariffs of 10% on exports from Ireland will be the “new normal,” but efforts continue to establish zero tariffs in certain key sectors.
“The US believes in tariffs. Clearly, 10% appears to be the baseline in any agreements they have reached thus far,” he stated.
Peter Burke, Minister for Enterprise, Tourism, and Employment, expressed that he is “hopeful rather than confident” that a tariff deal can be achieved between the US and the EU by 9 July.
