European Union officials will meet Tuesday in an effort to finalize legislation for the bloc¡¯s trade deal with the U.S. Failure to reach an agreement means the EU risks missing President Donald Trump¡¯s July 4 deadline to have the accord in place.
Trump previously threatened to hike tariffs on European auto imports to 25% from 15% because the EU hadn¡¯t moved quickly enough to implement the deal, which was signed nearly a year ago.
The disagreement threatens to send transatlantic relations to a new low and could trigger a fresh round of tariff escalation between the allies. The European Commission, which handles trade matters for the EU, has said it maintains options to protect the bloc¡¯s interests if Trump were to follow through on his threat to boost levies.
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