On Sunday, European Commission President Ursula von der Leyen and US President Donald Trump had what was officially described as a "very good exchange of views." What exactly that entailed remains a mystery left to the press office, but the phrasing sounded diplomatic enough.
On Monday, a European Commission spokesperson clarified the bloc's objective: the EU still aims to clinch a trade deal with the United States by July 9. The goal is to sidestep the pain of tariffs, which Brussels considers mutual and entirely avoidable.
"We want to reach a deal with the US. We want to avoid tariffs. We believe they cause pain. We want to achieve win-win outcomes, not lose-lose outcomes," the spokesperson told reporters during the Commission's daily briefing. This was an apparent reminder to Washington that dialogue is better than trade wars.
Meanwhile, the US administration remains unfazed. According to officials, reminder letters about the impending tariffs will be sent to all nations that fail to reach an agreement by the deadline. Starting August 1, there will be no turning back—the new tariff season begins, with no exceptions or extensions.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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