EU to accept 10% flat tariffs on exports to US in hopes of placating Trump: report
The European Union is reportedly prepared to accept a flat 10% tariff on all exports to the United States in a bid to prevent steeper duties on critical sectors like automobiles, pharmaceuticals and electronics.The proposal would be pitched to Trump administration officials as a strategic concession and on a temporary basis, according to the German-language business daily Handelsblatt.“The offer to US counterparts would come only under certain conditions and would not be billed as permanent,” the paper reported, citing senior EU negotiators.The development comes as President Trump and other world leaders meet in Canada this week for the annual G-7 summit.The gathering is expected to be dominated by escalating Israel-Iran war, as well as ongoing trade disputes.Trump has already levied a 10% universal tariff on imports from the EU, as well as 25% on steel and automobiles.
He has threatened to impose tariffs of up to 50% on all imports from the 27-member bloc.Last week, Trump warned that the US could soon act unilaterally if progress in trade talks stalls.“At a certain point, we’re just going to send letters out.And I think you understand that, saying this is the deal, you can take it or leave it,” the president said.European officials appear increasingly concerned about the threat of escalating tariffs on high-value goods and are attempting to preempt further economic strain amid ongoing trade tensions.Accepting a uniform 10% tariff may serve as a way to stabilize transatlantic trade while sparing individual sectors — especially the auto industry — targeted punitive measures.While details of the proposed conditions were not disclosed, the move signals a shift in Brussels’ approach to trade talks, particularly as the Trump administration has favored aggressive tariff strategies to pressure allies and rivals alike.European automakers and pharmaceutical companies have been especially vulnerable to such tactics.The Post has sought comment from the White ...