EU considers lowering tariffs on goods imported from the United States

According to a report by Jinse Finance, citing the Wall Street Journal, sources familiar with the matter revealed that the European Union is considering lowering tariffs on a range of U.S. imports in hopes of quickly reaching a trade agreement with President Trump. EU leaders are scheduled to meet in Brussels on Thursday evening local time to discuss how far they are willing to go to win Trump’s support. Other incentives under consideration include reducing non-tariff barriers and increasing purchases of U.S. products such as liquefied natural gas. Sources involved in the negotiations said that many European officials and diplomats have now accepted the reality that the Trump administration has no intention of removing the 10% baseline tariff, and are instead focusing on securing as many exemptions as possible to mitigate the economic impact of these and other tariffs. Germany and Italy are leading efforts to push for a swift preliminary agreement between the EU and the U.S. According to sources, such an agreement could be just a few pages long, with details to be updated in subsequent negotiations.