Howard Lutnick, U.S. Secretary of Commerce speaks during the Pennsylvania Energy And Innovation Summit 2025 at Carnegie Mellon University in Pittsburgh on July 15, 2025.
David A. Grogan | CNBC
Commerce Secretary Howard Lutnick said Sunday that the European Union should agree to open its markets for U.S. exports to convince President Donald Trump to lower “reciprocal” tariffs on the 27-member bloc.
Lutnick’s comments suggest that Trump is open to a deal with the EU, but reiterated that the president still believes there’s roughly a 50-50 chance that one can ultimately be reached.
“The question is, do they offer President Trump a good enough deal that is worth it for him to step off of the 30% tariffs that he set,” Lutnick said on Fox News.
The commerce secretary’s comments still raise questions about what a “good enough” deal with the United States’ largest trading partner would look like at a pivotal time for trade negotiations.
Trump is set to hold trade talks with the president of the European Commission, Ursula von der Leyen, days before the Aug. 1 deadline for Trump’s tariffs to take effect.
Ahead of the pivotal trade deadline, Trump on Friday said that “we have a 50-50 chance, maybe less than that, but a 50-50 chance of making a deal with the EU.”
He said that sticking points remained “with maybe 20 different things,” raising questions about whether the two leaders could move closer to a framework for a deal on Sunday.
As Trump has threatened to impose 30% tariffs on the EU, the bloc has weighed countermeasures, such as using its “Anti-Coercion Instrument,” a move that has been seen as the trading bloc’s “trade bazooka.”
Such a move could hinder U.S. vendors’ participation in the EU market.
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