EU Plans €50 Billion Trade Offer for Trump

The European Union is preparing a €50 billion trade offer to the United States, aiming to address ongoing tensions over tariffs and trade imbalances. EU trade commissioner Maroš Šefčovič indicated that the bloc is willing to increase purchases of U.S. goods, particularly in sectors like natural gas and agriculture, to help close a €50 billion trade deficit when services are included. However, the EU has made clear it will not accept a deal that maintains the current 10% U.S. tariffs on EU goods, which are set to take effect soon. Negotiations have seen some progress, but EU officials emphasize the need for a 'balanced and fair' agreement that is also acceptable to member states and the European parliament. The outcome of these talks could have significant implications for transatlantic economic relations and the global trading system.