EU and US could reach trade deal this weekend - Reuters

Investing.com -- The European Union and the United States might reach a framework trade deal this weekend that would end months of uncertainty for European industry, according to a report from Reuters, citing EU officials and diplomats on Friday.

The potential agreement would likely include a 15% baseline tariff on all EU goods entering the United States, with European steel and aluminum facing a probable 50% tariff, these sources said.

U.S. President Donald Trump expressed caution about the prospects, stating on Friday that there was a "50-50 chance or perhaps less" of reaching a trade agreement with the European Union. He added that Brussels wanted to "make a deal very badly."

One source indicated that a weekend deal appeared likely as the "agreement is basically in the hands of Trump now."

There might also be a high-level meeting to finalize terms, as a source familiar with the negotiations mentioned there was a "good chance" European Commission President Ursula von der Leyen would meet Trump in Scotland over the weekend.

A spokesperson for the European Commission did not respond to multiple requests for comment regarding a possible meeting between the leaders.

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