EU Pushes For Trump Tariff ‘Stand-Still’ Clause Until A Trade Deal Is Reached: Report

The European Union is reportedly pushing for a “stand-still” clause with the United States on President Donald Trump’s tariff plans until a trade deal is reached.

According to a Reuters report, German lawmaker Bernd Lange stated that the EU is attempting to persuade the U.S. to refrain from imposing new tariff measures while an agreement is being negotiated.

“I see that there might be a corridor for some understanding in the tariff situation on steel, on cars and of course, also regarding some possible exceptions from the baseline tariffs,” Lange said.

The EU is currently facing 50% tariffs on steel, 25% on cars, and 10% on other goods, as the economic bloc tries to hash out a trade deal with the U.S. prior to August 1.

This also comes at a time when President Trump has threatened to slap 50% tariffs on copper imports and 200% levies on pharmaceuticals.

Meanwhile, U.S. equities remained optimistic on Wednesday as Wall Street awaits President Trump’s tariff letters scheduled for later today, as the July 9 deadline comes to pass.

At the time of writing, the SPDR S&P 500 ETF (SPY), which tracks the S&P 500 index, was up 0.24%, while the Invesco QQQ Trust (QQQ) gained 0.21%. Stocktwits data shows retail sentiment around the S&P 500 ETF has been in the ‘bullish’ territory over the past week.

Earlier on Tuesday, Germany warned the U.S. that the EU is ready with retaliatory measures if a fair tariff deal is not struck.

"If we don't reach a fair trade deal with the U.S., the EU is ready to take counter measures," Germany’s finance minister, Lars Klingbeil, said.

President Trump, on the other hand, warned that there would be no more tariff deadline extensions.

“TARIFFS WILL START BEING PAID ON AUGUST 1, 2025. There has been no change to this date, and there will be no change,” he said.

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