How the EU is preparing to reach a tariff deal in Trump's game of chicken

Interestingly, The European Union is pushing to secure a trade deal with the U

Moreover, Ahead of President Donald Trump's Aug. 1 deadline (noteworthy indeed)

Michal Baranowski, Polish undersecretary of state at the ministry of economic development and nology, said the EU is working on a four-part strategy (noteworthy indeed), in this volatile climate

Nevertheless, Anna Moneymaker | Getty ImagesThe U (something worth watching)

With less than two weeks to go until U (which is quite significant)

President Donald Trump's Aug

Moreover, 1 deadline, the EU continues to negotiate with U

Trade officials, while drawing up a series of possible countermeasures if a deal is not forthcoming

Said the EU continues to be "very eager" in negotiating a trade agreement, according to White House press secretary Karoline Leavitt

Furthermore, Speaking at a news conference on Thursday, Leavitt said the EU is exploring "ways to lower their tariff and their non-tariff barriers that we have long said harm our workers and our companies

President, whose trade war tactics have earned him the TACO nickname, will not accept a postponement of the Aug. 1 deadline, Leavitt said

However, TACO stands for "Trump always chickens out" in reference to the president's tendency to date to announce high import tariffs, only to later delay or lower them

In contrast, A four-part strategyMichal Baranowski, Polish undersecretary of state at the ministry of economic development and nology, said that, as work continues in a bid to reach a deal, the first part of the EU's strategy is to negotiate with U

Officials in good faith (this bears monitoring). "The second one is, let's prepare for countermeasures in case we don't [reach a deal]

Meanwhile, And we have countermeasures on both the steel and aluminium tariffs as well as the initial package of 72 billion [euros] for so-called recical tariffs," Baranowski told CNBC's "Europe Early Edition" on Friday, given current economic conditions

Trade talksEurope Early Edition"Point three, we are comparing notes with other countries that are affected by U

Nevertheless, Tariffs, not to necessarily coordinate but to get a sense of where everyone else is, because the other countries negotiating with the U

Conversely, Are a bit on the same wagon," he continued. "Fourth, we are really strengthening European competitiveness. "Poland's Baranowski said the EU represents the "most vital economic relationship" for the U, given current economic conditions. , adding that Washington has "as much to gain or to lose from this relationship as Europe

On the other hand, "His s come shortly after the EU's top trade negotiator Maros Sefcovic traveled to Washington for further trade talks

Moreover, In contrast, Anadolu | Anadolu | Getty ImagesThe spect of fresh U

Tariffs represents a major blow to the EU, in today's financial world

At the same time, The 27-nation bloc had been scrambling to secure a preliminary agreement to spare it from receiving a Trump letter dictating a new, across-the-board tariff on its exports to the U (an important development)

And EU have the largest bilateral trade and investment relationship in the world, representing almost 30% of global trade in goods and services, and accounting for 43% of the global gross domestic duct (GDP), according to EU figures

Furthermore, Last year alone, the value of EU-U

Trump has repeatedly hit out at the EU for what he perceives to be an unfair trading relationship, often citing the EU's trade surplus with the U

Furthermore, Tit-for-tat auto tariff cuts (which is quite significant)

As part of its push to reach a U, given the current landscape. -EU framework trade deal, the European bloc is said to be planning to offer the U, considering recent developments

Furthermore, Additionally, Tit-for-tat tariff reductions on cars (which is quite significant)

Additionally, Meanwhile, The move, as reported by the Financial Times on Thursday, would see the EU drop its 10% duties on U (an important development)

Conversely, The European Commission, the EU's executive arm, declined to on the report when ed by CNBC on Friday (this bears monitoring)

Market completely, says CEOEurope Early EditionThe U

Moreover, Sweden's Volvo Cars, for instance, on Thursday reported a sharp decline in second-quarter operating fit, saying the result reflects an challenging environment for the industry

The automaker, which is seen as one of the most exposed European automakers to U, considering recent developments

Tariffs, was the first regional carmaker to release results in what is expected to be a bruising earnings season.