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US and EU close in on 15% tariff deal, FT reports
BRUSSELS, BELGIUM, JUL 25 – The deal aims to reduce trade barriers and avoid a US-imposed 30% tariff, with EU counter-tariffs on $109 billion of US goods set for August 7 if negotiations fail.
- With the August 1 deadline looming, US and EU negotiators are closing in on a deal, imposing a 15% tariff on most EU exports to avert a broader trade war.
- The United States threatened, prompting intensive talks, as Brussels approved a €93 billion package of counter-tariffs.
- Under the draft terms, the US proposal includes a 15% tariff with sectoral carve-outs, offering waivers for aircraft, spirits and medical devices while cutting car duties from 27.5% to 15%.
- The European Commission briefed envoys on the proposal, and spokesperson Olof Gill said `within reach`.
- With pressure mounting, if EU member states approve in the coming days, counter-tariffs will take effect on August 7, proving crucial to prevent escalation.
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De Telegraaf
rd.nlThe European Commission's announced counter-tariffs on US goods could affect approximately 30 percent of Dutch imports. This refers to the value of these imports, according to Statistics Netherlands (CBS). The tariffs will primarily affect high-tech manufacturers, including medical equipment and data technology.
The 27 give the approval to the countermeasures worth 93 billion euros that will be activated automatically if on August 1 there is no agreement and the US applies the 30% tariff with which it has threatened. Accepting 15% is a plausible scenario, which seemed unthinkable weeks agoThe EU and Trump are moving towards an agreement with 15% tariffs The digestion of Donald Trump's trade threats has been slow for the European Union and the last one h…
Brussels believes in a compromise on the basis of 15% customs duties imposed by Washington, including for imports of automobiles.
EU turns up pressure with Trump trade deal ‘in reach’
With the contours of a hard-fought EU-US trade deal taking shape, the European Union is flexing its muscles in a bid to squeeze concessions from US President Donald Trump in the run-up to his deadline of August 1. Brussels and Washington appear to be inching towards a deal with a baseline 15-percent US levy on
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