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,

U.S. President Donald Trump on Tuesday said Japan was being "tough" in trade talks and the European Union had not yet offered what he considered a fair deal, as a team led by Treasury Secretary Scott Bessent stayed at the G7 meeting in Canada to keep working on trade issues after Trump's abrupt early departure.

The U.S. and European Union are nearing the deadline for striking a deal on trade before tariffs come back into full effect.

Russia’s war-time economy is slowing down, and the EU is negotiating a trade deal with the US to keep some tariffs in place. Plus, the Bank of England votes to hold interest rates steady, and a UN official describes violence at aid distribution sites in Gaza.

Michael Clauss said governments in the bloc fear the economic consequences and risk of EU internal disagreement on taking countermeasures against the U.S.