(Reuters) -The European Union must open up its markets for U.S. exports in order to convince U.S. President Donald Trump to reduce a threatened 30% tariff rate due to kick in on August 1, U.S. Commerce Secretary Howard Lutnick said on Sunday, adding Brussels clearly wanted to make a deal. “The question is, do they […]
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US commerce secretary says Europe must open markets to get lower tariff deal
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(Reuters) -The European Union must open up its markets for U.S. exports in order to convince U.S. President Donald Trump to reduce a threatened 30% tariff rate due to kick in on August 1, U.S. Commerce Secretary Howard Lutnick said on Sunday, adding Brussels clearly wanted to make a deal.
“The question is, do they offer President Trump a good enough deal that is worth it for him to step off of the 30% tariffs that he set,” Lutnick told “Fox News Sunday,” adding that Trump was looking to increase access for U.S. firms.
He said the ultimate decision would be up to Trump, who has said there is a 50-50 chance a deal can be reached with the EU.
(Reporting by Andrea Shalal in Edinburgh and Ahmed AbouleneinEditing by Peter Graff)