The European Commission describes the trade between the U.S. and the EU as "the most important commercial relationship in the world.” The value of EU-U.S. trade in goods and services amounted to 1.7 trillion euros ($2 trillion) in 2024, or an average of 4.6 billion euros a day, according to EU statistics agency Eurostat.

The European Union is pressing to finalize a trade agreement with the United States by July 9. As global trade tensions rise, President Trump warns of increased tariffs. The EU is torn between pursuing a swift deal or leveraging its economic power for better terms,

The European Union expects to find out on Monday whether President Trump will impose more tariffs, in a move that would have repercussions on both sides of the Atlantic.