Brussels. European Commission President Ursula von der Leyen has said that the European Union (EU) is “ready for a deal” to resolve the tax dispute with the UNITED States. He said he was preparing for talks amid the possibility that there would be no satisfactory deal to protect Europe’s interests.

Von der Leyen made the remarks during a visit to Aarhus. Noting that the deadline for the deal is July 9, he said trade between the EU and the United States is 1.5 trillion euros ($1.77 trillion).

“This is a great task,” he was quoted as saying in a statement issued by the European Commission.

Stressing the goal of reaching an “agreement in principle”, von der Leyen said, “Due to the huge volume of trade between the two sides, it will be impossible to finalize a comprehensive agreement within this short timeframe.” ’

He also said the EU would not hesitate to take retaliatory measures if the talks failed. “You all know that together we are preparing for the possibility of a satisfactory agreement,” he said. We want a solution through dialogue. ’

Maros Sefcovic, the European Commissioner for Trade and Economic Security, is currently in Washington and is in talks with U.S. trade representatives in an effort to reach a deal.

Meanwhile, German Chancellor Frederic Merz also urged both sides to make a “quick and simple agreement”, stressing that such an agreement is important for key sectors, including pharmaceuticals, engineering and automotive manufacturing.

Currently, the United States imposes 25 percent tariffs on EU cars and auto parts and 50 percent on steel and aluminum products.

The United States says it is preparing to expand taxes to include timber, aerospace goods and equipment, pharmaceuticals, semiconductors and important minerals.