Trump and von der Leyen engaged in high-stakes trade negotiations to prevent a 30% US tariff on EU exports. With a tight deadline of August 1, both parties had a deal framework in progress. A proposed baseline tariff of 15% on EU exports included specific exemptions for critical sectors, but not wine. The final decision rests with Trump, who indicated a favorable outlook for agreement, while EU member states prepared for post-agreement discussions. The transatlantic trading relationship valued at $1.9 trillion is crucial for both economies.
Trump and von der Leyen aimed to resolve a significant trade standoff, with a persistent 30% US levy on EU exports looming if a deal wasn’t reached by August 1.
The negotiations include a proposed baseline levy of around 15% on EU exports to the US, with specific exemptions for vital sectors, though not for wine.
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