The EU will accept Trump's uniform tariffs, but hopes to exclude key industries
July 1, 2025
The EU is willing to accept a trade agreement with the US, which includes a uniform 10% tariff imposed by the US on many EU exports. However, the EU hopes that the US will commit to imposing lower tariffs on key industries such as pharmaceuticals, alcohol, semiconductors and commercial aircraft. Insiders said that the EU is still pushing the US to grant quotas and exemptions to substantially reduce the 25% tariff on automobiles and auto parts and the 50% tariff on steel and aluminum in the US. The deadline for the EU to reach a trade deal with Donald Trump is July 9th. If no agreement is reached, tariffs on almost all EU exports to the US will jump to 50%.
