European Union leaders will have to decide whether to support the conclusion of a quick trade agreement with the United States, which in its current form benefits Washington, or to continue negotiations in the hope of more favorable terms, News.bg reports.
According to diplomats and officials quoted by “Reuters“, more and more member states are leaning towards the first option, with the idea of subsequently implementing compensatory measures.
German Chancellor Friedrich Merz said:
“I support the European Commission and its president in their efforts to advance competitiveness and conclude a trade agreement with the United States as soon as possible.“
The president of the European Commission will seek guidance from the leaders of the 27 member states during a summit in Brussels, in connection with the deadline set by US President Donald Trump - 9 July. If a deal is not reached by then, the US is threatening to raise tariffs to 50% on European cars, parts, steel, aluminium and other goods.
“A trade war will make both sides of the Atlantic poorer. I support the Commission President's approach, which is calm and results-oriented“, said Belgian Prime Minister Bart de Wever.
Diplomats say that more and more countries are accepting the 10% tariff as an inevitable basis on which the EU can build compensatory measures to “rebalance” trade relations. Among them is a digital tax on online advertising, which would hit US tech giants such as Google, Meta, Apple, X and Microsoft and reduce the US trade surplus in services.
The European Commission's proposal includes the elimination of tariffs on industrial goods from both sides and increased EU purchases of US liquefied natural gas and soybeans. But Washington is pushing for concessions on issues such as environmental standards, VAT and online regulations - areas where the EU refuses to compromise.
In parallel with the Brussels meeting, the leaders will also seek a compromise with Slovakia and Hungary on the planned shutdown of Russian gas by 2027. This condition has blocked the adoption of the 18th package of sanctions against Russia. Slovak Prime Minister Robert Fico has already said he will ask for the vote to be postponed until his country's concerns are taken into account.