The European Commission said on 9 July that it aims to conclude a trade agreement with the United States before 1 August, signalling that the talks could be wrapped up within days. The negotiations have intensified as both sides seek to avert the prospect of new U.S. tariffs that would take effect if no accord is reached. Momentum appeared to build further on 25 July, when European officials and diplomats told Reuters that the two sides could strike a ‘framework’ deal as soon as this weekend. While details of outstanding issues were not disclosed, the officials described the discussions as advanced enough to allow political leaders to announce at least the outlines of an agreement. The accelerated timetable follows President Donald Trump’s move earlier in the week to extend a tariff deadline to 1 August, increasing pressure on negotiators. Equity markets responded positively: major U.S. stock indexes edged higher on Friday afternoon after news of the possible weekend breakthrough.