France Seeks July 9 Extension Amid US, EU Tariff Standoff

- France aims to delay the July 9 trade deadline for a better deal. - The EU considers energy imports from the US while tariffs loom. France's Finance Minister, Eric Lombard, has urged the EU to extend trade negotiations with the United States, aiming to push talks beyond the looming July 9 deadline to secure a more favorable agreement. In an interview with *La Tribune Dimanche* on June 29, 2025, Lombard stated, “I would rather have a good deal than a bad deal on July 9.” His announcement highlights France's concern over potential US tariffs on European exports, including automobiles and pharmaceuticals. According to Reuters on June 29, 2025, US President Donald Trump previously set the July 9 deadline as a benchmark for concluding trade talks. However, Trump and other key US officials have recently signaled flexibility, indicating a willingness to work with countries that show "good faith" during discussions. US Treasury Secretary Scott Bessent acknowledged this on June 27, suggesting that negotiations could conclude by Labor Day, which would give key trading partners an extended window. Amidst the ongoing negotiations, European officials have reportedly accepted a key condition, expecting that the 10% tariff Washington imposed earlier this year will form the baseline of any future trade deal. Although French President Emmanuel Macron has emphasized that France favors a pragmatic and decisive resolution, he maintained that the country will not tolerate unfavorable or unbalanced terms. Energy trade appears to be a key element of the negotiations, as Lombard suggested the EU could increase imports of US natural gas as part of the agreement. This move would offset the bloc’s recent reduction in purchases from Russia. While energy remains a potential area for progress, the overall trajectory of the EU-US trade discussions is uncertain, especially since the European Commission has declined to disclose details of a US proposal reportedly discussed at a recent EU summit. As of June 29, market reactions to the trade developments have been limited, reflecting the uncertainty surrounding the talks and their potential outcome. In the cryptocurrency market, meanwhile, data from CoinMarketCap showed Ethereum (ETH) trading at $3,214 as of 12:00 UTC, with a 2.3% increase in 24-hour trading volume.