The Wall Street Journal: The US and EU are close to reaching a "non-tariff trade agreement."

According to a report by The Wall Street Journal on June 21, Deep Tide TechFlow news indicates that the United States and the European Union seem to be on the verge of reaching an agreement on several non-tariff trade issues, covering areas from deforestation rules to the treatment of American tech companies in Europe, but the fate of tariffs that both trade partners are about to implement remains unclear. Sources revealed that a draft of a 'reciprocal trade agreement' distributed by the Office of the U.S. Trade Representative outlines a series of preliminary agreements on specific trade issues, including the EU's Digital Markets Act, carbon border taxes, the shipbuilding industry, and more. These sources stated that the agreement appears to be close to a final version but emphasized that changes may still occur in the coming weeks.

Informed sources indicate that the text does not specifically mention any threats from President Trump or any tariffs imposed on the EU—from the 20% reciprocal tariffs suspended by Trump in April to higher tariffs on specific industries such as automobiles and steel. The text also does not detail the EU's proposed retaliatory tariffs, which are set to take effect on July 14 if an agreement cannot be reached. It remains unclear whether the tariff issue will be resolved in a separate agreement, whether the relevant negotiations have stalled, or whether both parties will decide to extend negotiations beyond the July 9 tariff deadline set by Trump.

In addition, it is also uncertain whether the EU agrees to all the terms of the protocol draft. Representatives of the US government and the EU executive body currently refuse to comment on the details of the protocol, but a spokesperson for the EU stated that both sides "are fully and deeply engaged in negotiations, and reaching a mutually beneficial solution through consultation remains our preferred option."