Trump sets July 4 deadline for EU trade deal or faces higher tariffs. President Donald Trump has issued an ultimatum to the European Union, demanding approval of last year's trade framework by July 4 or face significantly increased tariff rates on EU goods. The announcement follows a call with European Commission President Ursula von der Leyen and represents a deadline extension from his earlier threat of 25 percent tariffs on EU autos. The original trade agreement stipulated a 15 percent tax on most EU imports, but the US currently levies 10 percent while investigating trade imbalances. Trump's statement leaves ambiguity about whether higher tariffs would apply to all EU goods or only automobiles.
