European corporate giants, including German carmaker Mercedes Benz and French luxury group LVMH, are leading a rearguard action to blunt the bloc’s response to US President Donald Trump’s proposed sanctions.

TMTPOST -- The European Union leaders recently took tougher tone on U.S. President Donald Trump’s tariffs as his July 9 deadline for reciprocal tariffs looms, according to a report on Tuesday.

European Union leaders are discussing their response to President Donald Trump’s latest proposal on trade after a briefing from Ursula von der Leyen.The European Commission president told EU leaders at summit talks in Brussels on Thursday evening that she had received the latest US tariff offer,

The European Union is open to a trade agreement with the United States that would apply a universal 10% tariff on many of its exports, but the EU is seeking U.S. commitments to reduce tariffs in key sectors such as pharmaceuticals,

The European Union is willing to accept a trade arrangement with the US that includes a 10% universal tariff on many of the bloc’s exports, but wants the US to commit to lower rates on key sectors such as pharmaceuticals, alcohol, semiconductors and commercial aircraft.