France Urges Extension of EU-U.S. Trade Talks to Secure Better Deal

France’s Finance Minister Eric Lombard has called for an extension of the EU-U.S. trade negotiations beyond the July 9 deadline, warning that rushing the deal could lead to unfavorable terms. The talks, initiated under pressure from U.S. President Donald Trump, risk triggering steep tariffs on European exports—including automobiles and pharmaceuticals—if a deal isn’t reached on time.

Trump’s administration has already imposed a 10% reciprocal tariff on EU goods in April, which European officials increasingly see as the likely baseline in any future trade agreement. Despite the tension, Lombard expressed optimism in an interview with La Tribune Dimanche, stating, “I think we are going to strike a deal with the Americans,” while emphasizing that “a good deal is better than a rushed one.”

U.S. Treasury Secretary Scott Bessent has also hinted at possible deadline extensions for countries demonstrating good-faith negotiations, offering hope for a more balanced outcome. Meanwhile, French President Emmanuel Macron reiterated France’s position at an EU summit last week, advocating for a fast but fair agreement that does not disadvantage European interests.

While the European Commission has kept the contents of Washington’s latest trade proposal confidential, energy is emerging as a key component of the negotiations. Lombard suggested that the EU could increase its imports of American natural gas to reduce dependency on Russian supplies—signaling a potential area for mutual economic benefit.

As the deadline approaches, both sides remain under pressure to finalize a deal that balances trade access with political and economic interests. The outcome could significantly impact industries across both regions, especially amid growing global competition and shifting geopolitical alliances.