European Commission president Ursula von der Leyen has confirmed the EU’s readiness to finalize a trade agreement with the United States, while also cautioning that Brussels is fully prepared to hit back with a set of countermeasures if “no satisfactory agreement is reached,” reports RTE.
While speaking in Aarhus, Denmark, during the inauguration of the Danish EU presidency, Ms von der Leyen stated: “As you know, the negotiations with the United States are ongoing.
“As we speak, [EU trade] Commissioner Šefčovič is in Washington today. I just want to say we are ready for a deal. We want a negotiated solution, but you will know that at the same time, we’re preparing for the possibility that no satisfactory agreement is reached. This is why we consulted on a rebalancing list, and we will defend the European interest as needed. In other words, all the instruments are on the table,” she added, reports RTE.
A temporary suspension on increased US tariffs for several countries is currently set to expire on 9 July.
Ongoing discussions are reportedly focused on maintaining tariff exemptions for specific sectors, while accepting a 10% duty rate on others.
The European Commission has a deadline of next Wednesday to finalize a trade accord before US President Donald Trump’s broader tariffs are reinstated, reports RTE.
In the absence of a resolution, EU goods could face a baseline import duty of 20%, potentially rising to 50%, a figure Mr Trump had previously threatened.
“We are aiming at the 9th of July,” Ms von der Leyen said, reports RTE.
“It’s a huge task because we have the largest trade volume globally between the European Union and the United States,” worth €1.5 trillion, reports RTE.
“What we are aiming at is an agreement in principle,” she added, reports RTE.
Due to the massive trade scale between both sides of the Atlantic, she said it would be “impossible” to reach a fully detailed accord within the current 90-day negotiation window, which ends next week.
Ms von der Leyen’s remarks came as German Chancellor Friedrich Merz reiterated his push for a “quick and simple” agreement with Washington — something essential for major European sectors such as pharmaceuticals, engineering, and automotive manufacturing, reports RTE.
She also underscored that the EU would not shy away from activating retaliatory steps if discussions fail to deliver results.
“We want a negotiated solution, but you all know that at the same time, we’re preparing for the possibility that no satisfactory agreement is reached,” she said, reports RTE.
“This is why we consulted on a rebalancing list, and we will defend the European interest as needed,” she added, reports RTE.
“In other words, all the interim instruments are on the table,” reports RTE.
The EU has reportedly drafted counter-tariffs on US imports amounting to approximately €100 billion, ready for implementation if no agreement is achieved.
Ms von der Leyen’s comments followed statements by Tánaiste Simon Harris, who said yesterday that 10% US tariffs on Irish exports may represent a “new normal,” though he noted that negotiations are ongoing in hopes of achieving zero-for-zero tariffs in key categories, reports RTE.
“The US believes in tariffs. Clearly 10% seems to be the baseline in any agreements they have reached so far,” he said, reports RTE.
Minister for Enterprise, Tourism and Employment Peter Burke also remarked that he is “hopeful rather than confident” that the US and EU can finalize a tariff deal by the 9 July deadline.
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