Lutnick says EU must offer Trump ‘the right deal’ to avoid 30% tariffs

Commerce Minister Howard Lootnick agreed with the president Donald Trump “50-50” The probabilities of concluding a business cope with the European Fee earlier than the deadline on August 1, saying that the principle query is whether or not the twenty seventh bloc will current the “appropriate deal.”

Lutnick appeared on “Fox Information Sunday” and was requested about Trump’s feedback on alternatives for settlement earlier than the president’s assembly with European Commission Ursula Von der Lynn president in Scotland on Sunday.

“If the president places the chances at 50-50, that is the difficulties,” Lottennik mentioned. “See, Europe wants a deal and desires a deal, they usually fly to Scotland to conclude a cope with President Trump.”

“The query is, do they provide President Trump a superb cope with sufficient that deserves all this effort to surrender the 30 % definitions he set?” Proceed the Commerce Secretary.

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Lootnick mentioned he agreed to Trump’s “50-50” alternatives to conclude a commerce cope with the European Union earlier than the deadline on August 1. (Samuel Corome/Siba/Bloomberg through Getty Erch, File/Getty Footage)

“Now we have a 50-50 likelihood, and maybe much less, however a 50-50 likelihood to make a cope with the European Union,” Trump mentioned. The 27 -member bloc is presently dealing with a 30 % tariff fee if a deal will not be reached on the deadline.

When Trump met with von der Lin in a while Sunday, the European Union president agreed to Trump’s potentialities to succeed in a deal earlier than August 1.

President Donald Trump will meet with European Fee President Ursula von der Lin, in Turnberry, Scotland, Britain, July 27, 2025. (Reuters images / Evlin Hakstein / Reuters)

“It’s in regards to the price range,” von der Lin instructed journalists sitting subsequent to Trump. “You’ll be able to name it equity, you possibly can name it a steadiness. Now we have an extra and the US has a deficit, and we’ve to rebalance.”

Trump instructed correspondents that the bottom tariff that the US may agree with with the bloc was 15 %.

As the 2 events proceed in business talks, Lootnick mentioned that the “appropriate deal” will witness the bloc that opens their markets and “actually negotiate with it [Trump] The proper path. “

He mentioned: “It’s as much as President Trump, who’s the chief of this negotiating schedule. We put the desk. Commercial negotiations with Japan.

The US and Japan have reached a historic commerce deal value $ 550 billion final week that can witness that Japan opens its nation to commerce in issues resembling automobiles, vehicles, rice and different agricultural merchandise, in addition to paying a 15 % mutual tariff to the US, in accordance with the deal.

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The White Home later confirmed to Fox Information that below the business deal, Japan will purchase 100 plane from a Boeing aircraft, reinforce rice purchases by 75 %, purchase 8 billion {dollars} of agricultural merchandise and different merchandise, and file protection spending with American corporations to $ 17 billion yearly, a rise of 14 billion {dollars}.

Trump administration’s deadline to begin the imposition Definitions It stays on August 1 and won’t flip, in accordance with Lottenic.

“Subsequently, there aren’t any extensions, no extra allowances,” he mentioned. “August 1, definitions are set, and you’ll begin in place. Customs will begin accumulating cash and go.”

Lootnick added that the international locations that failed to succeed in a deal are nonetheless chatting with Trump even after the date of the deadline.

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“I imply, he’s at all times able to pay attention,” Lootnick mentioned of the president, including that “if they’ll make him completely happy is one other query.”