President Trump has threatened to impose higher tariffs on the EU by July 4 if they do not eliminate their tariffs on US goods. After a call with EU Commission President Ursula von der Leyen, Trump stated that the EU had agreed to a trade deal but progress has stalled. Von der Leyen mentioned that they are making good progress towards tariff reduction. The deal requires approval from both the European Parliament and the 27 member states, with ongoing negotiations scheduled.