00:00The EU has received the latest US proposal for further tariff negotiations.
00:06European Commission President Ursula von der Leyen confirms this without disclosing any details
00:11and saying that all options remain on the table.
00:16So our message today is clear. We are ready for a deal.
00:22At the same time, we are preparing for the possibility that no satisfactory agreement is reached.
00:28This is why we consulted on a rebalancing list and we will defend the European interest as needed.
00:36In short, all options remain on the table.
00:40European leaders meet in Brussels on Thursday to decide whether they want to push for a quick trade agreement
00:46or keep fighting for a better deal.
00:48German Chancellor Friedrich Merz advocates for a quick and simple trade deal with the US
00:53rather than a slow and complicated one.
00:56While French President Emmanuel Macron echoed the same sentiment,
00:59adding that France would not accept terms that were not balanced.
01:03The EU already faces US tariffs of 50% on steel and aluminium,
01:0825% on cars and car parts and 10% on most other EU goods.
01:13While still trying to lower tariffs,
01:15European officials have accepted that a 10% tariff will likely be the minimum starting point
01:21in any trade deal with the US.
01:23But Trump has previously threatened that tariffs on EU imports could rise to 50% without an agreement.
