UK Media: EU Set to Reach Agreement with Trump, But May Face Higher Tariffs Than the UK
According to a report by Jinse Finance, citing the Financial Times, EU negotiators are close to reaching a trade agreement with US President Trump that will confirm the EU faces higher tariffs than those granted to the UK. It is reported that Brussels is prepared to sign a provisional "framework" agreement, which, during ongoing negotiations, would set a "reciprocal" tariff rate of 10% by the US President, matching the baseline tariff imposed on the UK. However, six diplomats familiar with the matter stated that the EU is not expected to secure the same level of US market access as the UK for steel, automobiles, and other products affected by industry tariffs. In addition, Trump is demanding a 17% tariff on EU agricultural products. One diplomat commented, "The UK's deal is better than this. Given how long we've been negotiating, this is surprising." (Jin10)
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