President Donald Trump has indicated a willingness to engage in further trade negotiations, potentially including discussions with the European Union. This comes despite his insistence that the letters threatening new tariff rates essentially constitute “the deals” for U.S. trading partners. Trump addressed reporters at the White House on Monday, stating, “The letters are the deals. The deals are made. There are no deals to make.”
However, Trump softened this stance by adding that Europe has expressed interest in pursuing a different kind of agreement. He stated, “We’re always open to talk. We are open to talk, including to Europe. In fact, they’re coming over. They’d like to talk.” This suggests a potential avenue for further negotiation despite the imposition of new tariffs.
Trump’s comments follow a series of letters issued to various economies, informing them of impending import taxes slated to take effect on August 1. These tariffs will be implemented if these economies fail to negotiate more favourable terms with the United States. The letters served as an extension of the initial July 9 deadline, providing a three-week window for trading partners to avert the higher levies.
The extension has spurred renewed efforts among trading partners to negotiate and avoid the imposition of increased tariffs, creating a race against time to reach agreements with the U.S. before the August 1 deadline.
