Efforts are underway to set the stage for a significant trade agreement between the European Union and the United States by July 9. Ursula von der Leyen, President of the European Commission, highlighted the complexity due to the immense volume of trade amounting to 1.5 trillion euros. During a press briefing in Arhus, Denmark, where the Commission is currently visiting under Denmark’s presidency of the EU Council, she emphasized the focus on reaching a preliminary agreement given the vast scope, as detailing within 90 days is impractical.
The July 9 deadline for finalizing the trade agreement is intended to prevent punitive tariffs of up to 20% on European goods. Meanwhile, EU Trade Commissioner Maros Sefcovic is engaging in negotiations in Washington. Von der Leyen affirmed the EU’s readiness for a deal but also mentioned preparedness for outcomes lacking a satisfactory accord. A re-equilibration list of U.S. products subject to potential tariffs illustrates the EU’s stance to protect its interests.
In light of global geopolitical tensions, Von der Leyen expressed confidence in Denmark’s presidency to advance trade agreements with blocs like Mercosur, Mexico, and India by the end of the year. Current trade tensions with the U.S. stem from President Donald Trump’s tariff announcements on steel, aluminum, and European automobiles, with reciprocal EU tariffs temporarily suspended for 90 days.
The European Commission, which manages the EU’s trade policy and supported by nations such as Portugal, aims for cautious negotiation with the U.S. Already, proposals for zero tariffs on industrial goods have been tabled to improve trade relations. Presently, 379 billion euros in EU exports to the U.S., equivalent to 70% of the total, face new tariffs, temporarily lifted, following recent U.S. administrative changes.
Denmark assumed the EU Council’s rotating presidency earlier this week, succeeding Poland, and will continue until year-end before Cyprus takes over in early 2026. Amid prevailing uncertainties fueled by ongoing conflicts and global strategic-economic competition, Denmark’s agenda includes enhancing EU autonomy and promoting security and sustainability.
