(Reuters) -The European Union is open to a trade agreement with the United States that would apply a universal 10% tariff on many of its exports, but the EU is seeking U.S. commitments to reduce tariffs in key sectors such as pharmaceuticals, alcohol, semiconductors, and commercial aircraft, Bloomberg news reported on Monday. EU is also […]
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EU to accept Trump’s universal tariff but seeks key exemptions, Bloomberg News reports
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(Reuters) -The European Union is open to a trade agreement with the United States that would apply a universal 10% tariff on many of its exports, but the EU is seeking U.S. commitments to reduce tariffs in key sectors such as pharmaceuticals, alcohol, semiconductors, and commercial aircraft, Bloomberg news reported on Monday.
EU is also pushing the U.S. to implement quotas and exemptions to effectively ease Washington’s 25% tariff on automobiles and auto parts, as well as its 50% tariff on steel and aluminum, the report said, citing people familiar with the matter.
Reuters could not immediately verify the report.
(Reporting by Dheeraj Kumar in Bengaluru)