President Donald Trump said Thursday he is in “no rush” to reach any trade deals because of the revenues his tariffs are generating, but he suggested while meeting with Italian Premier Giorgia Meloni that it would be easy to find an agreement with the European Union and others.
Trump played down the likelihood of an accelerated timeline to wrap up deals, saying any agreements would come “at a certain point.”
“We’re in no rush,” said Trump, hinting that he has leverage because other countries want access to U.S. consumers.
The president later said: “We have a lot of countries that want to make a deal. Frankly, they want to make deals more than I do.”
Meloni’s meeting with Trump was a test of her mettle as a bridge between the EU and the United States. She was the first European leader to have face-to-face talks with Trump since he announced and then partially suspended 20% tariffs on European exports.
Meloni secured the meeting as Italy’s leader, but she also has, in a sense, been “knighted” to represent the EU at a critical juncture in the fast-evolving trade war that has stoked recession fears. The Trump administration has belittled its European counterparts for not doing enough on national security while threatening their economies with tariffs, sparking deep uncertainty about the future of the trans-Atlantic alliance.
She sought to portray the United States and Europe as natural allies in Western civilization and said it was important to “try to sit down and find solution” to tensions over trade and national security.
“The goal for me is to make the West great again,” Meloni told Trump.
The EU is defending what it calls “the most important commercial relationship in the world,’’ with annual trade with the U.S. totaling 1.6 trillion euros ($1.8 trillion). The Trump administration has said its tariffs would enable trade negotiations that would box out China, the world’s dominant manufacturer. But Trump maintains that rivals and allies alike have taken advantage of the U.S. on trade.
Trump tried to push back against claims that his tariffs are harming the economy, saying that gasoline and egg prices are dropping. The president blamed the Federal Reserve for interest rates rising on U.S. debt even though the rates largely increased because investors were worried about Trump’s tariff plans and they became less willing to buy Treasury notes.
Trump said of inflation and the U.S. public: “They’ve already seen it get much better.”
For European nations, trade negotiations fall under the authority of the EU Commission, which is pushing for a zero-for-zero tariff deal with Washington.
Administration officials, in talks with the EU, have yet to publicly relent on the president’s baseline 10% tariff. Trump paused for 90 days his initial 20% tax on EU products so that talks could occur.
The EU has already engaged with Trump administration officials in Washington. Maroš Šefčovič, the European Commissioner for trade and economic security, said he met on Monday with Commerce Secretary Howard Lutnick and U.S. Trade Representative Jamieson Greer.
Šefčovič said afterward on X that it would “require a significant joint effort on both sides” to get to zero tariffs and work on non-tariff trade barriers, with Trump’s team specifically objecting to Europe’s use of value added taxes.
Meloni’s margins for progress are more in gaining clarity on the Republican president’s goals rather than outright concessions, experts say.
“It is a very delicate mission,” said Fabian Zuleeg, chief economist at the European Policy Center think tank in Brussels. “There is the whole trade agenda, and while she’s not officially negotiating, we know that Trump likes to have this kind of informal exchange, which in a sense is a negotiation. So it’s a lot on her plate.”
As the leader of a far-right party, Meloni is ideologically aligned with Trump on issues including curbing migration, promoting traditional values and skepticism toward multilateral institutions. But stark differences have emerged in Meloni’s unwavering support for Ukraine after Russia’s invasion in February 2022.
The two leaders were expected to discuss the war and Italy’s role in an eventual postwar reconstruction of Ukraine. Trump pressed Meloni to increase Italy’s defense spending, which last year fell well below the 2% of gross domestic product target for countries in the NATO military alliance. Italy’s spending, at 1.49% of GDP, is among the lowest in Europe.
Despite the differences on Ukraine and defense spending, Meloni is seen by some in the U.S. administration as a vital bridge to Europe at a difficult moment for trans-Atlantic relations.
Trump is looking not only to discuss with Meloni how “Italy’s marketplace can be opened up, but also how they can help us with the rest of Europe,” according to a senior administration official who briefed reporters before the visit. The official spoke on the condition of anonymity under ground rules set by the White House.
After being the only European leader to attend Trump’s Jan. 20 inauguration, Meloni has responded with studied restraint as abrupt shifts in U.S. policy under Trump have frayed the U.S.-European alliance. She has denounced the tariffs as “wrong” and warned that “dividing the West would be disastrous for everyone,” after Trump’s heated White House exchange with Ukraine’s president.
Italy maintains a 40 billion euro ($45 billion) trade surplus with the U.S., its largest with any country, fueled by Americans’ appetite for Italian sparkling wine, foodstuffs like Parmigiano Reggiano hard cheese and Parma ham, and Italian luxury fashion. These are all sectors critical to the Italian economy, and mostly supported by small- and medium-sized producers who are core center-right voters.
The meeting comes against the backdrop of growing concerns over global uncertainty generated by the escalating tariff wars. Italy’s growth forecast for this year has already been slashed from 1% to 0.5% as a result.
The Trump administration has imposed tariffs on much of the world, arguing that other countries have taken advantage of the U.S., as evidenced by its trade deficits. But with the 90-day pause, the White House has increased Trump’s tariffs on China to 145% while keep separate tariffs of as much as 25% on Canada, Mexico, autos, steel and aluminum.
On Wednesday, Trump met with Japan’s chief trade negotiator, Ryosei Akazawa. Trump, on social media, summarized the meeting s achieving “Big progress!” but he did not offer any specifics.
China is simultaneously seeking to strike deals that could possibly undercut claims made by Trump that his tariffs will ultimately lead to more domestic factory jobs and stronger growth.
Treasury Secretary Scott Bessent said Thursday the administration is working on the “big 15 economies” first when it comes to trade deals. He said South Korean officials will visit Washington next week.
