FX.co ★ EU Sees Progress in U.S. Trade Talks

EU trade chief Maros Sefcovic stated on Wednesday that significant progress has been made towards a trade framework agreement with the United States. He suggested that a deal could potentially be finalized in the coming days. The negotiation timeline was extended from July 9 to August 1, allowing additional time for discussions to conclude. Nevertheless, Italian Economy Minister Giancarlo Giorgetti emphasized that the negotiations remain "very complicated" and could extend until the very deadline. According to EU officials and automotive industry insiders referenced by Reuters, the discussions are considering measures to support the EU auto sector. These measures may include tariff reductions, import quotas, and credits linked to the value of EU automotive exports to the U.S.