EU Leaders Push For Quick Trade Deal With Trump To Avert Tariff War

The mood across Europe on Tuesday suggests growing urgency among several EU member states to secure a trade deal with the U.S., as they scramble to avert President Trump's looming threat of 50% tariffs on European imports.

Financial Times reports that Italian Prime Minister Giorgia Meloni held a call with President Trump after his tariff threat last Friday and, shortly after, urged European Commission President Ursula von der Leyen to prioritize diplomacy over confrontation. 

Von der Leyen succeeded in convincing President Trump to delay the tariff hike from June 1 to July 9 during a Sunday phone call. EU leaders, including those from France, Spain, Ireland, and Belgium, have all welcomed the move by the commission president to work with the U.S. president to defuse growing trade tensions and fast-track trade negotiations. 

President Trump wrote in a Truth Social post on Sunday that "talks will begin rapidly" with von der Leyen. 

Trump's comments followed a post from von der Leyen on the social media platform X, in which she described her conversation with Trump as a "good call."

On Monday, French President Emmanuel Macron praised the "good exchange" in talks between Trump and von der Leyen. 

"I hope we can continue on this road and return to the lowest possible tariffs that will allow for fruitful exchanges," Macron told reporters during his trip to Vietnam. 

EU leaders and President Trump are set to attend a high-level summit in the Netherlands on June 24–25—a meeting that could potentially lead to the outlines of a rough trade framework or possibly even a deal.

Spain's Foreign Minister José Manuel Albares said E.U.-U.S. trade talks are heading in the "right direction," while Ireland's Foreign Minister Simon Harris stated that a deal would "protect jobs and investment." Belgium also welcomed the negotiations, calling them a "constructive" approach.

Also on Monday, EU Trade Commissioner Maroš Šefčovič wrote on X that he had "good calls" with U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer. 

Šefčovič said, "The EU Commission remains fully committed to constructive and focused efforts at pace towards an 🇪🇺🇺🇸 deal. We continue to stay in constant contact."

Whether Europe's outreach is genuine diplomacy or just "nice" political theater across the Atlantic will be very clear over the next month. If talks break down and no deal is reached by the July 9 deadline, equity markets across the West will move sharply lower—well before that date arrives.