EU Sees Progress in U.S. Trade Talks

EU trade chief Maros Sefcovic said on Wednesday that "good progress" had been made toward a framework trade agreement with the U.S., adding that a deal could be reached "potentially even in the coming days." He noted the extended deadline to August 1 from July 9 provided extra time to finalize negotiations.

However, Italian Economy Minister Giancarlo Giorgetti cautioned that the talks remained “very complicated” and could continue up to the last moment.

According to EU officials and auto industry sources cited by Reuters, discussions include possible measures to protect the EU auto industry, such as tariff cuts, import quotas, and credits based on the value of EU car exports to the U.S.