French minister urges for continuation of EU-US trade negotiations

France’s finance minister is urging an extension of talks between the European Union and the United States to secure a more favorable trade agreement beyond the impending deadline. President Donald Trump has established a fixed deadline for these negotiations, cautioning that failure to reach a consensus could lead to increased tariffs on various goods like cars and pharmaceuticals imported into the U.S. The progress of these discussions between the significant trading partners has generated uncertainty, with sources knowledgeable about the talks indicating that European officials are coming to terms with a 10% “reciprocal” tariff imposed by Washington in April serving as a foundation for any potential deal.

In an interview published in La Tribune Dimanche, French Finance Minister Eric Lombard expressed optimism about reaching an agreement with the U.S., emphasizing the need for a further extension of the negotiation deadline to ensure the final deal is beneficial. U.S. Treasury Secretary Scott Bessent also hinted at the possibility of extending deadlines for countries demonstrating sincerity in their negotiations.

President Emmanuel Macron of France echoing sentiments from an EU summit, highlighted the importance of a swift and balanced trade deal with the U.S., underlining that France would not endorse any terms that are perceived as unfairly skewed. Although EU leaders deliberated over a new proposal from the U.S. during the summit, the specific details of this offer were not disclosed by the European Commission.

Lombard mentioned the potential inclusion of energy-related aspects in the trade agreement, with the EU potentially looking towards augmenting its imports of natural gas from the U.S. to substitute the inflow originating from Russia. This move sheds light on the broader scope of the discussions and the strategic considerations informing the negotiation process.

As the deadline for the EU-U.S. trade talks looms closer, the call for an extension from France’s finance minister underscores the necessity of ensuring a comprehensive and mutually advantageous agreement that addresses the interests of both parties involved. The evolving dynamics of these negotiations underscore the complex interplay of economic priorities, strategic positioning, and diplomatic considerations shaping the contours of the impending trade deal.