EU Negotiators Fail to Reach Trade Deal With US, Seek Extension of Tariff Pause Amid 72 Billion Euro Countermeasures

EU negotiators have failed to reach a breakthrough in trade talks with the United States, with discussions continuing into the weekend without an agreement on a broader trade deal. In light of this, EU diplomats are seeking to secure an extension of the current US tariff pause, which temporarily halts new tariffs on European exports to the US. The EU's second package of countermeasures has been reduced to 72 billion euros amid the stalled negotiations. The temporary tariff pause has been welcomed by governments as providing limited breathing space to finalize a formal trade agreement. Both the European Commission and the US have agreed to take more time to negotiate the trade deal, resulting in another delay in reaching a final agreement.