The Trump administration and the European Union are racing to clinch a trade deal by the White House's self-imposed Aug. 1 deadline, with economists warning that a sharp hike in tariffs could raise costs for consumers and businesses. As the clock ticks down, a series of pacts with other U.S. trading partners in recent days have raised hopes of avoiding a potentially damaging trade war with Europe, with experts saying a deal with Japan announced on Tuesday could serve as a template for a deal with the EU. The White House did not immediately respond to questions about the status of talks with the EU, including whether the Trump administration expects to reach a trade deal by the Aug. 1 deadline.
Author: Megan Cerullo
Published at: 2025-07-23 21:59:50
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