All eyes are stored on negotiations between the United States and the European Union, which have not yet reached a commercial agreement, although there are only a few days until the customs tariffs imposed by Washington come into force, writes CNBC. If the two parties fail to conclude an agreement until July 9, the date on which the 90-day grace period expires regarding the so-called mutual rates imposed by US President Donald Trump, the European goods imported to up to 50%. Retortion measures from the EU, which target a wide range of American products and have also been temporarily postponed, could be triggered immediately afterwards. The commercial relationship between the US and the EU is one of the most important in the world, representing about 30% of the global trade of goods, according to the European Council. Among the most traded products are drugs, vehicles and petroleum products. In 2024, the total trade (goods and services) between the two transatlantic partners was evaluated at about 1.68 thousand billion euros, according to the data of the European Council. The EU registered a surplus of 198 billion euros in the trade in goods, but also a deficit of about 148 billion euros in the trade trade, resulting in a net commercial surplus of about 50 billion euros in the Community block in 2024. Trump repeatedly criticized the commercial relationship between Washington and Brussels, claiming that the European Union is not advised. The United States. Negotiations between the US and the EU seem to be difficult and slowly advance. Sources quoted by CNBC declared, at the beginning of the week, that a political agreement, devoid of concrete details, could be the most realistic option for the EU. The President of the European Commission, Ursula von der Leyen, seemed to confirm this idea on Thursday: «What we are pursuing is a principle agreement,» she said, adding that a detailed agreement is «impossible» to reach over 90 days. Von Der Leyen has reiterated that, if an agreement is not reached, «all the instruments are on the table.»
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