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Investing.com -- The European Union is working closely with U.S. President Donald Trump’s administration to reach a trade deal, but Brussels is preparing for all possible outcomes, European Commission President Ursula von der Leyen said on Wednesday.
"We stick to our principles, we defend our interests, we continue to work in good faith, and we get ready for all scenarios," von der Leyen told the European Parliament.
The statement comes after Trump signed an executive order on Monday that extends the implementation date for potential "reciprocal" tariffs to August 1, moving the deadline that had previously been set for Wednesday.
The extension provides additional time for trade negotiations between the U.S. and EU to continue as both sides work toward an agreement.
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