TMTPOST -- Reports   on Thursday signaled the European Union   is considering whether to make some concessions to secure   a preliminary agreement ahead of U.S.   Donald Trump ’ s July   9   deadline amid internal division.

Credit：Xinhua News Agency

The EU is weighing concession to   woo   Trump   in bid   to clinch   a speedy   trade deal,   the Wall   Street Journal cited people with knowledge of the matter. The reported   concessions include   lowering   tariffs   on   a range of U.S. imports, lowering nontariff barriers,   more purchase of   American products   including   liquefied natural   gas   ( LNG ) , cooperation with the U.S. to handle its economic concerns about China.

Many European   officials are resigned to the idea   that the U.S. sticks to its 10% baseline tariffs   and have focused on seeking exemptions as much   as possible to mitigate   the tariff   shock,   per the sources. Germany and Italy are   reported to be   leaders of a group of EU members   that are pushing for a quick preliminary trade agreement between the bloc   and the U.S. It was   said that these countries argue   the   EU could   first strike an agreement with just a few pages, and then   update   it   in detailed follow-upnegotiations.

Some of European officials who intend   to move quickly   to get   a deal   are reportedly seeking relief for sectors   hit hard   by existing   tariffs   imposed   by the Trump administration. One   option the EU   has sought for dealing individual sectors   is a system   known as tariff-rate quotas, just   like that adopted in the U.S.-Britain agreement.   The U.S.   will create an annual quota of 100,000 vehicle imports from Britain, and imported cars within the quota will face   a 10% tariff, down from 25%,   according to the agreement shared by the White House.

EU leaders are set to debate how much   they are willing to sacrifice   on trade   to win over Trump at a meeting   in   Brussels on Thursday evening, according to   the report.

Bloomerg later   reported EU leaders discussed their   response to the latest   U.S. proposal on   trade   that   European Commission president   Ursula von der Leyen   shared at   the aforementioned meeting.

According to the   report, the EU   appeared   divided during their discussion. It noted the sticking point   for EU policymakers   is whether to accept   an asymmetrical trade deal with the US or risk escalation by striking back, triggering Trump ’ s   retaliation.   It was   said that several member states   stood   against countermeasures, with most suggesting that reaching a quick deal with the US is better than holding out for a perfect one, even if many of U.S.   tariffs remain in place. On their   opposite, France   rejected   any deal skewed in favor of   the U.S., and pushed for total rollback of   tariffs.

EU leaders have expressed their stance   that the bloc is   not   ruling out tit-for-tat   tariffs in case of no desired deal    reached. "We will need to retaliate and rebalance in some key sectors if the US insists on an asymmetrical deal," the EU ’ s industry chief, Stephane Sejourne, told Bloomberg Wednesday, including if the "outcome of the negotiations is that a 10% tariff remains."  

The EU   readies retaliatory tariffs   as a senior official recently has warned to make a "credible   threat"   of retaliation   in Trump ’ s trade war   is necessary if it   wants   to get a good deal with the U.S., the Financial Times ( FT )   reported on   Tuesday.

Von der Leyen   was prepared   to threaten   retaliation   to extract a better deal   since a   possible strong   response would help convince   Trump to cut   his   tariffs   on   EU, Bjoer   Seibert,   von   der Leyen ’ s chief   of staff   told the EU ’ s ambassadors   following the G7 summit   in Canada last week, according to the report.

Seibert   was reported to call   for the   EU   ambassadors   to support   for   the planned   tariffs   on   € 95   billion   worth of U.S.   goods, and reveal that the commission was also   preparing measures hitting U.S. services,   including levies on   American tech companies and limiting   access to public procurement contracts for   American businesses.