Flags of the European Union and the United States.
Sean Gallup | Getty Images News | Getty Images
CNBC’s assignment desk has a conundrum this week: how to approach July, 9.
Why does this specific date matter? It’s the deadline for trade negotiations between the U.S. and European Union before the tariffs axe (maybe) falls once again.
But President Donald Trump’s tendency to move deadlines makes it tricky to commit to a big coverage plan when the date could become redundant. However — as we saw with the surprise framework agreed between the U.S. and China in Geneva back in April — you also can’t afford to underplay the deadlines’ significance.
What we do know is that a full trade deal is “impossible” before the deadline, in the words of European Commission President Ursula von der Leyen, and that the best Brussels can hope for is an “agreement in principle.”
As CNBC anchor Silvia Amaro reported last week, the EU is banking on at least a bare-bones deal to show progress and avoid the 50% levy on products exported from the bloc.
We should get some clues from Brussels on Tuesday and Wednesday, as European finance ministers gather for their regular meeting in Brussels.
