Trump's tariffs deadline is looming for Europe. Here's where things stand

And European Union have not yet struck a trade deal

There are just a few days left before the end of a 90-day reprieve on recical tariffs imposed by the U

Retaliatory measures from the EU, which have also been paused for now, could then quickly

Hu Yousong | Xinhua News Agency | Getty ImagesAll eyes are on talks between the U

And the European Union, which have yet to strike a trade deal with just days to go before Washington's tariffs come into full effect

Should the trading partners fail to reach an agreement by July 9 — when a 90-day reprieve on U

President Donald Trump's so-called recical tariffs ends — EU goods imported to the U

Retaliatory measures from the EU targeting a wide range of U

Goods, which have also been temporarily put on hold, could then shortly afterward. -EU trade relationship is one of the most important in the world, accounting for around 30% of global goods trading according to the European Council

Medicinal and pharma ducts, road vehicles and petroleum ducts are some of the top traded goods

In 2024, trade between the two transatlantic partners was valued at around 1. 68 trillion euros ($1. 98 trillion) when taking into account both goods and services, the European Council said

Trump has repeatedly taken issue with the trade relationship between Washington and Brussels, suggesting it is unfair and accusing the EU of taking advantage of the U

Slow moving negotiationsU. -EU negotiations have appeared to be difficult and slow to gain ground

Sources told CNBC earlier this week that a bare-bones political deal that is light on details may be the EU's best hope

European Commission President Ursula von der Leyen seemed to echo the view on Thursday. "What we are aiming at is an agreement in principle," she said, adding that a detailed agreement was "impossible" to reach during the 90-day reprieve

Von der Leyen also reiterated that, if no agreement is reached, "all the instruments are on the table. "A bare-bones deal is Europe's best hope in trade talks with the U. , sources sayEuropean Trade Commissioner Maros Sefcovic meanwhile said in a social media post on Friday said that he had had a "ductive" week in Washington D

Meeting various U. "The work continues

Our goal remains unchanged: a good and ambitious transatlantic trade deal," he said

Treasury Secretary Scott Bessent seemed more hesitant the odds of a trade agreement being struck before the deadline. "We'll see what we can do with the European Union," he told CNBC's "Squawk on the Street" on Thursday

Experts speaking to CNBC appeared skeptical the short-term lihood of a fully-fledged deal

Anthony Gardner, former U

Ambassador to the EU, told CNBC's "Squawk Box Europe" on Friday that he was "not surprised" von der Leyen had excluded the possibility of an all-inclusive deal

These are the sticking points holding up a U. -EU trade deal"The detailed agreement is what it says: detailed

It can run into many pages, [because] full trade agreements are thousands of pages, but what we could see is heads of terms the one that the U

Signed with the U. ," he said. "So that's possible, but I don't think the actual content will be similar," Gardner added

Carsten Nickel, managing director at Teneo, went a step further by saying a broad agreement was the "best outcome" the EU could achieve

Uncertainty will nevertheless remain, even if such an arrangement is brokered, Nickel suggested. "We'll be in a world where, whatever agreement has been struck by then will remain the subject of intense bargaining and will remain at risk of the U

Changing its mind, losing patience, looking in other directions and so on," Nickel said

He does not see the bloc imposing retaliatory measures unless Trump slaps full tariffs next week. "And even then, I think the EU will tread carefully," Nickel.