US President Donald Trump and EU head Ursula von der Leyen were prepared for make-or-break talks in Scotland on Sunday, aiming to settle a months-long transatlantic trade deadlock, as discussions came down to the wire.
Trump sees a one-in-two chance of a deal with the European Union, which faces a 30% US levy unless it strikes a trade pact by August 1. Washington warned on Sunday that there would be “no extensions.” Von der Leyen’s European Commission, negotiating on behalf of EU member nations, is working hard to preserve a trade partnership worth $1.9 trillion in goods and services each year.
According to an EU official informed ahead of the meeting, slated for 4:30 pm (1530 GMT), the basics of a deal are in place after negotiations ran late into Saturday night. However, critical concerns still need to be resolved.
And, of course, the final word is with Trump. A political deal is on the table but it needs the sign-off from Trump, who wants to negotiate this down to the very last moment, the diplomat told the news agency AFP. The idea proposes a 15% tariff on EU exports to the US, comparable to Japan’s level, with exemptions for vital industries such as aviation and spirits, but not wine.
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