Published by Global Banking & Finance Review®
Posted on June 30, 2025
1 min readLast updated: January 23, 2026
The EU is negotiating with the US to accept a universal 10% tariff while seeking exemptions in key sectors like pharmaceuticals and automobiles.
(Reuters) -The European Union is open to a trade agreement with the United States that would apply a universal 10% tariff on many of its exports, but the EU is seeking U.S. commitments to reduce tariffs in key sectors such as pharmaceuticals, alcohol, semiconductors, and commercial aircraft, Bloomberg news reported on Monday.
EU is also pushing the U.S. to implement quotas and exemptions to effectively ease Washington's 25% tariff on automobiles and auto parts, as well as its 50% tariff on steel and aluminum, the report said, citing people familiar with the matter.
Reuters could not immediately verify the report.
(Reporting by Dheeraj Kumar in Bengaluru)
The European Union is considering a universal tariff of 10% on many of its exports.
The EU is seeking U.S. commitments to reduce tariffs on automobiles, auto parts, steel, and aluminum.
The report regarding the EU's openness to a trade agreement with the U.S. was made by Reuters.
The current U.S. tariff on automobiles and auto parts is 25%.
Reuters could not immediately verify the report regarding the EU's trade agreement.
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