European Union leaders discussed new proposals from the United States on a trade deal at a summit in Brussels on Thursday, with Commission President Ursula von der Leyen not ruling out tariff talks could fail and saying "all options remain on the table".

E.U. chief Ursula von der Leyen said the bloc was ready for a trade deal with Washington, but hinted at preparations for countermeasures if a July 9 deadline was not reached.

The European Union won’t sacrifice the right to set its own rules in exchange for a trade deal with the U.S., a top official said. European Commission President Ursula von der Leyen, who leads the bloc’s executive body,