Will the US and EU be able to finalize a trade agreement before July 4th?
The European Union hopes to reach an agreement by May 19th to implement a trade deal with the United States, which has been stalled for almost a year.
According to AFP, the European Union (EU) expects to reach a consensus on May 19th to implement the US-EU trade agreement that has been in place for nearly a year. President Donald Trump is growing increasingly impatient, having warned he will impose new, very high tariffs if the two sides are to finalize the agreement before July 4th.
On the evening of May 19th (French time), negotiators from the Parliament and representatives of EU countries will meet in Strasbourg (northeast France). The goal of the meeting is to promote a compromise solution that will help the bloc meet the deadline set by President Trump. From there, they hope to bring an end to more than a year of transatlantic trade conflict.
If the deal fails, President Trump warned the EU would face "much higher" tariffs. He also previously stated he would increase tariffs from 15% to 25% on European cars and trucks.
In July 2025, the 27-nation bloc reached an agreement with Washington. This agreement set a 15% tariff on most European goods. However, the US President is expressing disappointment, as the EU has yet to finalize the draft.
The US delegation to the EU posted on the X platform on May 18th, emphasizing that the bloc "must fulfill" its commitments made at Turnberry, Scotland. This was the agreement between President Donald Trump and European Commission President Ursula von der Leyen.
The relentless tariff campaign launched by Trump before the Turnberry deal caused a shockwave. The heavy tariffs targeted steel, aluminum, and auto parts. This forced the EU to expand its global trade relations.
Nevertheless, the EU cannot ignore its €1.6 trillion ($1.9 trillion) relationship with the US, its largest trading partner. Cyprus, currently holding the rotating EU presidency, has stated that its goal "remains to swiftly implement the EU-US joint declaration."
The European Parliament is under pressure to withdraw some amendments that were added to the text in March to appease member states. The US considers these new points unacceptable.
Bernd Lange, head of the European Parliament's Trade Committee, expressed optimism, stating that both sides had "made a lot of progress." Lange said, "I hope we can reach a compromise. That includes new proposals." However, he emphasized the need to first unify the positions of the various factions, which appear likely to continue bargaining until the last minute.
Conditional approval from the EU Parliament has been delayed for months, stemming from Trump's ideas regarding Greenland, which belongs to Denmark. At the same time, the US Supreme Court has rejected several of the President's tariff measures.
The conservative European People's Party (EPP) is the largest force in Parliament. Its leader, von der Leyen, is also a member of the party. They are strongly pushing for the implementation of the agreement. The EPP insists that this is crucial to ending the unrest, which is severely damaging EU businesses. EPP lawmaker Zeljana Zovko told AFP that she "is confident we will get this done."
