The European Union is willing to accept a trade agreement with the US which includes a 10% uniform duty on many of its exports, but wants from the US to commit to lower duties for basic sectors such as medicinal products, alcohol, semiconductors and commercial aircraft. According to a Bloomberg report citing sources with knowledge of the issue, the EU is also pressing the US for quotas and exceptions to substantially reduce Washington duties of 25% on cars and spare parts, as well as 50% duties on steel and aluminum. The European Commission, which handles EU commercial issues, believes that the agreement is slightly favored by the US, but is still acceptable, sources said, speaking on the condition of anonymity. The EU has a deadline until July 9th to reach a trade agreement with Donald Trump before duties in almost all its exports to the US increase […]
Source: News Beast
With 6 years of experience, I bring to the table captivating and informative writing in the world news category. My expertise covers a range of industries, including tourism, technology, forex and stocks. From brief social media posts to in-depth articles, I am dedicated to creating compelling content for various platforms.
