The European Union and the US believe they can agree a trade deal before July 9 , the deadline by which Washington is threatening to impose 50% tariffs on almost all EU products — which would trigger a series of countermeasures from the bloc.

The United States has presented a new proposal for a trade agreement to the European Commission, whose chief has shared it with EU leaders, European officials said on Thursday.

The United States has presented the European Union with a new trade offer to resolve the ongoing dispute, the European Commission has confirmed. The EU's executive arm is now examining the document, commission President Ursula von der Leyen said late on Thursday,