European Trade Commissioner Maros Sefcovic expressed optimism that Washington and the EU were approaching a positive outcome for both sides. He warned, however, that a 30% tariff would practically eliminate trade between the U.S. and the 27-nation bloc, which are currently each other's largest trading partners.

The EU has prepared tariffs worth €21 billion on U.S. goods if trade negotiations fail. U.S. President Trump threatened a 30% tariff on imports from the EU and Mexico. EU leaders urge a negotiated settlement,

The European Union is trying to unify behind a trade deal with the United States as President Donald Trump’s July 9 tariff pause expiration looms.