EU Seeks to Finalize Trade Agreement with U.S.
(MENAFN) The European Union is urgently working toward a provisional trade deal with the United States, while simultaneously preserving its right to retaliate if necessary, according to several EU officials on Wednesday.
"We are looking for a reliable framework -- from which we can keep building our common trade," European Commission President Ursula von der Leyen stated during a plenary session of the European Parliament held in Strasbourg, France.
Von der Leyen emphasized the EU's commitment to its core values and signaled that the bloc remains prepared for "all scenarios." Nevertheless, she stressed that the EU's primary objective is to reach a negotiated resolution.
A spokesperson for the European Commission reinforced von der Leyen's position, revealing that a provisional agreement could be imminent.
"We're working hard to get an agreement in principle with the U.S., and that is where our focus is at this point," the spokesperson confirmed.
Meanwhile, U.S. President Donald Trump said Tuesday he would "probably" send a letter to the EU within 48 hours, adding: "A letter means a deal."
"They treated us very badly until recently, and now they're treating us very nicely. It's like a different world, actually," Trump remarked, reflecting on shifting diplomatic dynamics.
Trump also intensified trade tensions by floating the possibility of imposing steep tariffs—up to 200 percent on foreign pharmaceuticals and 50 percent on copper. According to EU trade statistics, pharmaceutical goods, including medicaments, have ranked among the bloc’s top exports to the U.S. over the past two years.
EU trade chief Maros Sefcovic informed lawmakers that both sides had made "good progress" in drafting the terms of a joint declaration or preliminary trade pact.
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