Howard Lutnick, U.S. Secretary of Commerce speaks throughout the Pennsylvania Vitality And Innovation Summit 2025 at Carnegie Mellon College in Pittsburgh on July 15, 2025.
David A. Grogan | CNBC
Commerce Secretary Howard Lutnick stated Sunday that the European Union ought to conform to open its markets for U.S. exports to persuade President Donald Trump to decrease “reciprocal” tariffs on the 27-member bloc.
Lutnick’s feedback counsel that Trump is open to a deal with the EU, however reiterated that the president nonetheless believes there’s roughly a 50-50 probability that one can finally be reached.
“The query is, do they provide President Trump a ok deal that’s price it for him to step off of the 30% tariffs that he set,” Lutnick stated on Fox News.
The commerce secretary’s feedback nonetheless elevate questions on what a “ok” take care of the USA’ largest buying and selling companion would appear like at a pivotal time for commerce negotiations.
Trump is ready to carry commerce talks with the president of the European Fee, Ursula von der Leyen, days earlier than the Aug. 1 deadline for Trump’s tariffs to take impact.
Forward of the pivotal commerce deadline, Trump on Friday stated that “we’ve a 50-50 probability, possibly lower than that, however a 50-50 probability of constructing a take care of the EU.”
He stated that sticking factors remained “with possibly 20 various things,” elevating questions on whether or not the 2 leaders may transfer nearer to a framework for a deal on Sunday.
As Trump has threatened to impose 30% tariffs on the EU, the bloc has weighed countermeasures, comparable to utilizing its “Anti-Coercion Instrument,” a transfer that has been seen because the buying and selling bloc’s “commerce bazooka.”
Such a transfer may hinder U.S. vendors’ participation within the EU market.