European Union leaders renewed economic sanctions on Russia for another six months on Thursday and reviewed the latest U.S. trade proposals during a summit in Brussels.
French President Emmanuel Macron said the EU remains open to a swift and pragmatic trade deal with Washington but called for fair terms. “Our goodwill should not be seen as a weakness,” he told reporters. “If the U.S. maintains its baseline tariff of 10%, Europe’s response must carry equal weight.”
European Commission President Ursula von der Leyen confirmed that the EU had received a new document from Washington. “We are ready for a deal,” she said, adding: “At the same time, we are preparing for the possibility that no satisfactory agreement is reached. All options remain on the table.”
German Chancellor Friedrich Merz echoed the call for a streamlined process, saying the EU should pursue a “quick and simple” agreement. He noted that von der Leyen had also proposed exploring a new trade body led by European nations, as the World Trade Organization faces challenges.
The renewed push for a U.S.-EU trade agreement comes as President Donald Trump promotes updated tariff policies with global partners. Trump announced Wednesday that the U.S. had signed a trade deal with China and suggested a similar agreement with India may follow.
Separately, EU officials confirmed the extension of sanctions on Russia, citing the ongoing war in Ukraine. The measures will remain in place for another six months.
Leaders are expected to return to the trade agenda in July, with talks set to intensify in the coming weeks.
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Swiss President Karin Keller-Sutter is set to meet U.S. Secretary of State Marco Rubio on Wednesday as Switzerland races to secure a deal that would prevent a severe 39% tariff on its exports to the United States.
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Today, 6th August, marks the inaugural celebration of the International Day of Awareness of the Special Development Needs and Challenges of Landlocked Developing Countries, whose geographic disadvantage hinders their ability to diversify economies, compete effectively, and join global market.
On Wednesday, Russia struck a vital gas pumping station in Ukraine’s Odesa region, targeting a key LNG import route from the U.S. and Azerbaijan, Ukrainian officials said, severely undermining winter energy preparations.
Swiss President Karin Keller-Sutter is set to meet U.S. Secretary of State Marco Rubio on Wednesday as Switzerland races to secure a deal that would prevent a severe 39% tariff on its exports to the United States.
Oil prices rose on Wednesday amid renewed supply concerns following U.S. President Donald Trump’s threat to impose tariffs on India for continuing to purchase oil from Russia.
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