The European Trade Commissioner said he had held a number of effective meetings with his US counterpart during the week.
On his social media, Maroš Šefčovič states that he spares neither time nor effort – they are focused on concluding a profitable deal.
Both sides are under pressure to reach an agreement before July 9, when new tariffs come into force.
It came as European shares rose on Friday after three days of declines as a slowdown in US involvement in the Middle East helped calm investor fears.
The pan-European STOXX 600 index rose 0.6% to 538.85, with the gauge expected to post a second straight weekly decline.
Air clashes between Israel and Iran are entering a second week, with European officials trying to bring Tehran back to the negotiating table.
The White House said President Donald Trump would decide within the next two weeks whether to join Israel in the conflict, helping to lift market sentiment, boosting interest in risk assets that had sold off earlier in the week amid uncertainty about the length of the conflict.
“Investors are taking on a little more risk… perhaps because the US is now giving itself two weeks and perhaps opening some diplomatic window to resolve the situation in Iran,” said Ipek Ozkardesskaya, senior market analyst at Swissquote Bank.
Banking sector shares rose 1.3%, leading the overall gains.
Travel and leisure shares on the SXTP exchange also rose 1.3%, led by a 4.8% rise in Europe's largest tour operator TUI after Barclays upgraded the stock to overweight from underperform.
Energy stocks SXEP, on the other hand, were at the bottom of the index, down 0.3%, but are seeking weekly gains.
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Investors also remain concerned about the looming July 8 tariff pause deadline, given the little progress in trade talks with Washington. European Commission President Ursula von der Leyen continues to push for a deal by July 9.
“Geopolitical tensions are kind of overshadowing other market concerns related to the delay in trade talks with the US, which are focused on Middle East issues,” Ozkardeskaya said.
Trump's tariffs have been a source of unrest and instability in recent months and have already begun to disrupt global supply chains, threatening economic growth.
Additional reporting from Reuters
Sourse: breakingnews.ie
