EU looks for path to trade accord with US

Bloc prepares for countermeasures in the event of talks ending in deadlock

The European Union is working around the clock trying to cut a trade deal with the United States during a 90-day suspension in "reciprocal tariffs" even as it prepares for countermeasures against its transatlantic trade partner should talks fail.

The EU faces the prospect of tariffs of 20 percent on its exports to the US when the 90-day suspension expires on July 14.

The European Commission has offered to buy more US goods to narrow its trade deficit with the country. US President Donald Trump has rejected an EU offer of a zero-for-zero tariff trade-off on industrial goods.