Summary

EU Commission President Ursula von der Leyen offered a “zero-for-zero” deal to eliminate all industrial tariffs with the U.S., following Trump’s 20% tariff hike on EU goods.

The offer revives a proposal from a decade ago that was nearly finalized under the TTIP — the Transatlantic Trade and Investment Partnership — that was ultimately scuppered by Trump in his first term.

The deal would cover cars, chemicals, and other industrial goods. Trump’s tariffs have rattled global markets, with EU stocks seeing their steepest drop since COVID-19.

The EU warned it is also ready with countermeasures if negotiations fail.