US-EU Tariffs: European Automakers Push for Deal Ahead of Negotiations

European automakers and key EU capitals are intensifying pressure for a deal with the United States that would ease tariffs in exchange for increased investments in America, according to sources cited by Bloomberg. The European Union has until July 9 to reach a trade agreement with former U.S. President Donald Trump before tariffs on nearly all exports from the bloc to the U.S. could skyrocket to 50%. The American president has imposed tariffs on nearly all of his trade partners, claiming the need to revive domestic production, fund tax cuts, and prevent other countries from taking advantage of the U.S. Member states were briefed on the status of trade negotiations on Friday (July 4, 2025), after this week’s talks in Washington, where they were informed that a technical agreement in principle was close, according to Bloomberg sources.