This week, Mark Leonard is joined by Tobias Gehrke, ECFR senior policy fellow, for a 15-minute Emergency Room episode dissecting the collapse of an EU-US trade deal. President Donald Trump’s last-minute letter, threatening to impose tariffs of 30% on the EU by August 1st, shattered expectations of a negotiated settlement—and prompted EU member states to prepare a €93bn retaliation package which targets American goods. Mark and Tobias explore why Trump upended talks, the EU’s hesitation to deploy its anti-coercion instrument and the urgent need for political (not technocratic) engagement. As trade tensions collide with security priorities like Ukraine, can Europe wield its economic leverage to avert a full-blown trade war?The podcast was recorded on July 14th, 2025. Hosted on Acast. See acast.com/privacy for more information.

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