EU Says Draft US Trade Pact Nears Completion, Warns of Tariff Risk

European Union officials said negotiations on a new EU-US framework trade agreement are in an advanced stage, with a joint statement ‘pretty much ready’ and awaiting a formal response from Washington. According to the officials, elements of the accord are already being implemented, underscoring the bloc’s confidence that a final deal can be concluded soon. Brussels described the draft accord as a “very good deal compared with others” and warned that failure to ratify it could trigger an escalation of tariffs on both sides of the Atlantic and sow divisions within the 27-member union. The prospect of higher duties is especially sensitive after the United States imposed a 145% tariff on Chinese goods earlier this year. Commenting on the discussions, DHL Group Chief Financial Officer Melanie Kreis said any resolution on transatlantic tariffs could reshape trade flows between Europe and the United States but would likely be beneficial overall.