Welcome to the Brussels Edition, Bloomberg’s daily briefing on what matters most in the heart of the European Union.
The EU is prepared for any outcome in trade talks with the US, including a breakdown in negotiations, according to Ursula von der Leyen. The Commission president made the remarks in the early hours of this morning after discussing the latest proposals from the White House with the bloc’s leaders in Brussels. With the US pushing for what EU officials see as unbalanced concessions, member states must decide whether to accept an unsatisfactory deal, or hit back and risk escalation and the ire of President Donald Trump. The clock is ticking. Tariffs on nearly all of the bloc’s exports to the US are set to jump to 50% when a deadline expires in just under two weeks. Officials believe the best-case scenario remains an agreement on principles that would allow the negotiations to continue beyond the July 9 deadline.
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