03:26 PM EDT, 06/26/2025 (MT Newswires) -- The European Union is mulling lowering tariffs on US imports in a bid to reach a swift trade deal with President Trump, the Wall Street Journal reported Thursday, citing people familiar with the matter.

European leaders are set to discuss potential concessions to win over Trump at a meeting in Brussels on Thursday. The EU's options include lowering non-tariff barriers and buying more American products including liquefied natural gas, the report said.

As the 9 July deadline looms, trade negotiations have sped up in recent weeks with EU officials presuming that Trump administration will keep the 10% baseline tariffs, and are instead focusing their efforts on seeking as many exemptions as possible, according to the report.

While Germany and Italy are leading a group to countries for a quick preliminary agreement between the EU and the US, the bloc's position is complicated by differing views about a possible retaliation if the two sides can't reach a deal, the Wall Street Journal said.

Spokespeople for the European Commission didn't immediately respond to MT Newswires' request for comment.

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