EU Prepares Trade Deal with Trump as China Finalizes Agreement

The European Union has signaled readiness to negotiate a trade deal with the TRUMP administration, following the submission of a new U.S. proposal ahead of looming tariffs set for July 9. EU leaders reviewed the outline, which remains sparse in detail, as the bloc seeks to avert escalated trade barriers.

Meanwhile, China has quietly finalized its own trade agreement with the U.S., confirmed by Commerce Secretary Howard Lutnick. President Trump briefly acknowledged the deal without elaboration, leaving market participants speculating about its implications for global commerce.

The WHITE House maintains flexibility on deadlines, with Press Secretary Karoline Leavitt noting President Trump retains unilateral authority to adjust tariff timelines. This uncertainty injects volatility into markets, particularly for commodities and currencies sensitive to trade policy shifts.