EU and USA getting closer to reaching trade tariffs agreement

The EU and the US are close to finalizing a deal on trade tariffs, Olof Gill, a spokesperson for the European Commission, stated.

"Regarding the agreement, we believe such an outcome is within reach, and we are working with might and main to deliver that for EU citizens, for EU companies, for EU consumers",

Olof Gill said.

According to earlier media reports, the EU and the US intend to hold trade talks this week.  These talks coincide with the deadline for concluding trade agreements announced by US President Donald Trump, which falls on August 1.

It also became known that Brussels is preparing retaliatory measures in case the parties fail to reach a deal. The EU plans to impose mirror duties on American imports as a response.