US Threatens 17% Tariffs on EU Food Exports Ahead July 9 Deadline

Tensions between the United States and the European Union have escalated as President Trump threatens to impose a 17% tariff on EU agricultural and food exports if no trade agreement is reached by the July 9 deadline. The U.S. is also considering broader tariffs, including a potential 20% tariff on all EU goods, pushing the EU to seek a high-level framework deal to avoid a full trade war. Key issues include regulatory concessions, reduction of the EU's trade surplus, and sectoral exemptions, with divisions among EU members on how to respond, particularly between Germany, France, and Italy. The EU has prepared retaliatory tariffs targeting American products, but hopes to negotiate to prevent further escalation. These developments have significant implications for transatlantic trade, with the potential to impact prices for consumers and businesses on both sides. Negotiations continue intensively with weekend talks planned and a focus on reaching a compromise before the tariff threats materialize.