The European Union aims to reach a trade deal with the US after Commission President Ursula von der Leyen (in pic) and US President Donald Trump had a "good exchange", a Commission spokesperson said on Monday.
It was not immediately clear, however, whether there had been a meaningful breakthrough in talks to stave off the imposition of sweeping tariff hikes on the United States' largest trading partner. The clock is ticking down on a deadline for countries around the world to conclude deals with the US after Trump unleashed a global trade war that has roiled financial markets and sent policymakers scrambling to protect their economies.
The EU has been torn over whether to push for a quick and light trade deal or back its own economic clout in trying to negotiate a better outcome. It had already dropped hopes for a comprehensive trade agreement before the July deadline.
"We want to reach a deal with the US. We want to avoid tariffs," the spokesperson told reporters at a daily briefing. "We want to achieve win-win outcomes, not lose-lose outcomes."
IN TRADE DEALS, 'TIME IS MONEY'
Von der Leyen also held talks with the leaders of Germany, France and Italy at the weekend, Germany said. "Time is money in the truest sense of the word," a German spokesperson told reporters in Berlin. "In this respect, we should give ourselves another 24 or 48 hours to come to a decision."
It was not immediately clear, however, whether there had been a meaningful breakthrough in talks to stave off the imposition of sweeping tariff hikes on the United States' largest trading partner. The clock is ticking down on a deadline for countries around the world to conclude deals with the US after Trump unleashed a global trade war that has roiled financial markets and sent policymakers scrambling to protect their economies.
The EU has been torn over whether to push for a quick and light trade deal or back its own economic clout in trying to negotiate a better outcome. It had already dropped hopes for a comprehensive trade agreement before the July deadline.
"We want to reach a deal with the US. We want to avoid tariffs," the spokesperson told reporters at a daily briefing. "We want to achieve win-win outcomes, not lose-lose outcomes."
IN TRADE DEALS, 'TIME IS MONEY'
Von der Leyen also held talks with the leaders of Germany, France and Italy at the weekend, Germany said. "Time is money in the truest sense of the word," a German spokesperson told reporters in Berlin. "In this respect, we should give ourselves another 24 or 48 hours to come to a decision."
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