EU Increasingly Resigned to 10% Baseline Tariff in US Trade Talks, European Sources Say
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European officials are increasingly resigned to a 10% rate on "reciprocal" tariffs being the baseline in any trade deal between the United States and the European Union, five sources familiar with the negotiations said.
President Donald Trump has announced wide-ranging tariffs on trade partners and wants to reduce the U.S. goods trade deficit with the EU. U.S. Commerce Secretary Howard Lutnick has ruled out going below a 10% baseline rate for the so-called reciprocal tariffs that cover most goods the...
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