The European Union has proposed to the United States a plan to import an additional €50 billion worth of U.S. products to address the ongoing trade deficit during tariff negotiations.

This proposal to increase U.S. imports is part of a broader strategy to rebalance the trade deficit and secure the removal of tariffs imposed by former President Donald Trump.

In 2022, the EU's import value from the U.S. was approximately €200 billion, indicating significant potential for increased trade volume.

EU Trade Commissioner Maros Sefcovic criticized the current 10% tariff rate as 'very high' and emphasized that the EU will not accept any agreement that maintains this level.

Despite low expectations for smooth negotiations, analysts view the initial discussions as a positive step amidst concerns of a recession due to the trade war.

The second meeting with U.S. officials was described as open and constructive, focusing on expanding bilateral trade and economic cooperation.

Currently, a 90-day negotiation period is in effect, during which tariffs are suspended, but significant tariffs could be implemented starting in July 2025 if no agreement is reached.

Sefcovic indicated that EU member states are prepared to support new retaliatory measures if an agreement is not achieved during this negotiation period.

He also warned that reaching a mutually beneficial agreement that satisfies both EU member states and the European Parliament will be very challenging.

The EU aims to collaborate with the U.S. to mitigate the impacts of China's growing exports, which could serve as an additional incentive for a trade agreement.

Sefcovic highlighted that purchasing liquefied natural gas (LNG) and agricultural products like soybeans could quickly help reduce the bilateral trade deficit.

In response to potential tariffs, the EU has suspended planned counter-tariffs on U.S. goods worth €21 billion until July 14, 2025, aiming to avoid a trade war.