Sources: In negotiations with the US, the EU is increasingly yielding to a 10% baseline tariff

According to Jintou Data, five sources familiar with the negotiations have indicated that European officials are increasingly accepting a 10% "reciprocal" tariff as the benchmark for any trade agreement between the United States and the European Union.

Previously, U.S. President Trump announced the imposition of broad tariffs on trade partners, and U.S. Secretary of Commerce Lighthizer has ruled out the possibility of setting a "reciprocal tariff" on most EU exports to the U.S. at less than 10%.

Sources said that EU negotiators are still pushing to lower the tariff rate below 10%. However, one of the sources noted that since the U.S. began generating revenue from its global tariffs, negotiations to reduce tariff levels have become more difficult. He stated, "10% is a tricky issue. We are putting pressure on them, but now they are generating revenue." Another European source said that the EU has not accepted 10% as the benchmark rate in the negotiations, but acknowledged that it is difficult to change or abolish this benchmark.