Ursula von der Leyen, the European Commission president, stated that reaching a detailed trade deal with the US by July 9 is "impossible". The focus will be on achieving an "agreement in principle" by that date, which would lack detailed provisions. She emphasized the complexity of negotiating terms due to the high trade volume between the EU and the US, amounting to 1.5 trillion euros, creating challenges for swift negotiations. The EU has been impacted by US tariffs, with Von der Leyen previously deeming these tariffs a significant blow to the global economy.
Ursula von der Leyen stated reaching a detailed trade deal by July 9 is "impossible" due to the complexity and volume of EU-US trade negotiations, aiming instead for an "agreement in principle."
The EU faces a significant challenge with trade negotiations, as the US and EU share the world's largest trade volume of 1.5 trillion euros, complicating fast-tracked agreements.
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