Negotiations are underway between the United States and the European Union over a new trade deal; both sides publicly hope it will end their trade war.
Officials on both sides have expressed confidence that a deal will be reached before the July 9 deadline invoked by President Donald Trump, which will trigger a tariff hike on EU imports to 50%.
Since taking office on Jan. 20 for his second term, Trump has imposed an array of tariffs globally, even on countries and entities — like the EU — widely regarded as allies. Trump has framed tariffs as a tool to lure factories back to America, raise money for the Treasury Department, and strike more favorable trade agreements with other countries.
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As for EU tariffs, Trump initially
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