A deal with naked bones is the best hope in Europe in trade negotiations with the US, sources say

The clock appears in trade talks between Washington and the European Union, and European officials say their best hope is a “political” deal before the July 9 key, three CNBC sources said.

Specific details of such a trade agreement must be developed at a later time.

“The US proposal has been aimed at the agreement in principle from last week,” said one EU official who did not want to call the negotiating sensitivity, said CNBC, adding that the agreement will in principle “negotiate the proper trade agreement at the next phase.”

Earlier, close allies, the US and the EU had a capricious relations against the backdrop of disagreements over the trade and support of combat Ukraine in the month after the start of the second term of the US President Donald Trump. The tension grew in early April, when the White House announced a number of mutual tariffs against most world trading partners, including 20% ​​of the EU. All such duties were temporarily reduced by July 9 to facilitate negotiations.

Last week, the United States sent a new proposal to the EU negotiation team. At the end of this week, European negotiations are negotiating with their American counterparts to make a deal in the coming days. According to the European Commission, the total bilateral trade between the EU and the US amounted to EUR 851 billion (1 trillion).

European officials are waiting for a new negotiations on Friday, but the situation is flowing. On Monday, European ambassadors talked about the state of the game in trade negotiations. Lithuanian Finance Minister Rimantas Shajijus said CNBC on Wednesday that he was “slightly optimistic”, there would be a trade compromise between both unilateral Atlantics.

Despite this. Sources said CNBC that despite the efforts to reach the trade compromise, the EU is preparing for any possible results, including the return of mutual tariffs.

“The general meaning is that in the coming days and weeks all the results, ranging from a successful transaction under the agreement, to the highest tariffs in the US with additional sectors, are still possible,” said the same EU official CNBC.

Last Friday, this mood also shared the President of the European Commission Ursula von der Leyen.

“We are ready for a deal. At the same time, we are preparing for the possibility that a satisfactory agreement is not allowed,” she said at a press conference.

The European Commission was not immediately available for comment when it contacted CNBC on Wednesday about the negotiations update.

Another EU official, who also acts with CNBC on the condition of anonymity, said there was an awareness in Brussels that it is almost impossible to return to trade relations that the EU and the US used to announce mutual tariffs on April 2.

The third EU official, who also decided to speak anonymously, said CNBC that there was a risk that the result of the negotiations would be an asymmetrical deal under which the EU will not avoid additional US fees.

However, the block seeks concessions in critical industries for its economy, including car, semiconductor and pharmaceuticals, confirmed all three sources.

The first EU official added that some member countries will only agree to the transaction in principle if there is an “advanced tariff guide” administration.

The European Commission, the EU executive hand, negotiates with other parts of the world, but its proposals and the situation reflect the thinking of 27 capitals.