EU and US Near Trade Deal With 15% Tariff Framework, FT Reports
The European Union and the United States are nearing the finalization of a trade agreement that would impose 15% tariffs on European imports, according to a report by the Financial Times.
As part of the potential deal, both sides have agreed to remove tariffs on select goods, including aircraft, spirits, and medical equipment, aiming to ease bilateral trade tensions.
The European Commission, responsible for handling the EU’s trade negotiations, briefed national representatives on Wednesday after holding discussions with U.S. officials.
Since April, European exporters have faced an additional 10% tariff on goods shipped to the U.S., adding to baseline duties that average 4.8%. Negotiations have continued throughout this period, despite the higher tariffs remaining in effect.
Insiders noted that the proposed 15% minimum tariff would absorb current levies, which Brussels sees as essentially preserving the existing tariff landscape. Importantly, automobile tariffs—currently at a steep 27.5%—would be significantly reduced to 15% under the terms being discussed.
