US President Donald Trump gave the European Union (EU) a final deadline until July 4 to approve the trade agreement. Trump stated that the EU had not fulfilled its commitment to reduce tariffs to zero under the agreement and threatened to significantly increase tariffs otherwise.
Trump announced this statement on Truth Social following a phone call with European Commission President Ursula von der Leyen. During the call, the two leaders also agreed that Iran would not be allowed to possess nuclear weapons.
EU Commission President von der Leyen stated on social media that the bloc is fully committed to implementing the trade agreement and that good progress has been made toward reducing tariffs by early July. It was noted that progress has been made in trade negotiations but some issues still need to be finalized.
The US Trade Court ruled that the 10% global tariffs imposed by Trump in the past were not in accordance with US laws. This decision is considered a new legal obstacle for the Trump administration's trade policies.
It was announced that trade talks between the US and the EU will resume on May 19. The parties will continue negotiations to clarify the details of the agreement and make progress on tariff reductions. Final results and details about the tariffs to be applied will be announced in the upcoming period.