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EU to accept Trump universal tariff but seeks key exemptions
Mint Mumbai
|July 02, 2025
The European Union (EU) is willing to accept a trade arrangement with the US that includes a 10% universal tariff on many of the bloc's exports, but wants the US to commit to lower rates than that on key sectors such as pharmaceuticals, alcohol, semiconductors and commercial aircraft.
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The EU is also pushing the US for quotas and exemptions to effectively lower Washington's 25% tariff on automobiles and car parts as well as its 50% tariff on steel and aluminium, according to people familiar with the matter.
This story is from the July 02, 2025 edition of Mint Mumbai.
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