Trump Sets July 4 Deadline for United States-EU Trade Deal
President Trump has given the European Union a July 4 deadline. The EU must ratify or put into action a trade deal by then.
Trump threatened much higher tariffs if the deadline is not met. The ultimatum came after Trump spoke with EU Commission President Ursula von der Leyen.
European leaders had failed to agree on putting the trade deal into action. This failure prompted Trump to set the deadline.
The US and EU agreed a trade deal last year. But European leaders have not yet fully acted on it.
Von der Leyen responded positively. She said good progress is being made toward tariff cuts by early July.
Talks between the two sides continue. A next round of talks is set for May 19.
Klear Note — Tariffs are taxes on goods from other countries. Higher tariffs make foreign products cost more in stores. Trade deals reduce these taxes between countries.
Key Terms 4
- European Union A group of 27 European countries that trade and work together
- tariffs Extra taxes added to goods bought from another country
- ratify To officially approve and agree to put a deal into action
- Ursula von der Leyen The president of the European Commission, the EU's top executive body