EU-US Trade Deadline Looms With No Deal in Sight, Potential Tariffs Threaten €380 Billion in Exports

European Union trade officials concede that a comprehensive US trade agreement will likely miss its deadline, with only a basic accord on general principles expected. The WHITE House has yet to respond to the EU''s latest proposal, leaving critical details unresolved. Washington''s contingency plan—a 50% tariff on nearly all EU exports, covering €380 billion (70% of EU-US trade)—hangs over negotiations as a hard deadline approaches.

Maros Sefcovic, the EU''s trade chief, maintains urgent dialogue with US counterparts including Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer. Despite recent in-person talks and a two-week fast-track agreement, sector-specific discussions on steel and aluminum remain deadlocked. Brussels has already begun preparing retaliatory measures should talks collapse.