US President Donald Trump has stepped up his stance in trade talks with the European Union, demanding a minimum tariff of 15-20 per cent on all goods from the bloc, the Financial Times reported, citing sources with knowledge of the talks.
“Trump also rejected the EU’s latest proposal to cut 25 per cent of sectoral duties on cars and, according to sources, would be happy to keep them at current levels,” the report said.
The US administration is reportedly considering reciprocal tariffs exceeding 10 per cent even if an agreement is reached.
“We don’t want a trade war, but we don’t know if the US will leave us with a choice,” a senior EU diplomat said in comments to the publication.
Another European diplomat said, “We are not going to stop at 15 per cent.” Sources said the mood in Brussels had shifted in favour of retaliatory measures.
The deadline for an agreement expires on 1 August. If there is no agreement by that date, Trump has threatened to impose 30 per cent tariffs on all imports from the EU.