Bangladesh, April 8 -- In an effort to defuse rising trade tensions with Washington, the European Union has formally offered the United States a “zero-for-zero tariffs” deal on industrial goods. The proposal, disclosed publicly by European Commission President Ursula von der Leyen on April 7, comes just two days before sweeping US tariffs on EU goods are set to take effect. The move highlights Brussels preference for negotiation over confrontation-but also its readiness to retaliate if diplomacy fails.

“We have offered zero-for-zero tariffs for industrial goods,” von der Leyen said during a press conference. “Europe is always ready for a good deal, so we keep it on the table.” According to reports, the...