EU may get 15 per cent tariff deal with US: reports
The European Union will result in a 15 percent wide tariff on EU goods imported with the United States and will avoid a 30 percent tax and are turning to a trade agreement that is planned to be implemented as of August 1st.
The ratio that could also extend to cars would reflect the US framework agreement with Japan.
The European Commission officials, who negotiated trade agreements on behalf of the 27 -member block, gave information to EU ambassadors in talks with US colleagues.
However, US President Donald Trump would ultimately make a final decision on an agreement.
In accordance with the outline of the potential agreement, 15 percent may apply to sectors, including cars and drugs, and will not be added to the long -standing US duties, which are slightly less than five percent on average.
Diplomats, aircraft, timber and some drugs and agricultural products such as sectors such as tariffs may be concessions.
However, the US administration does not seem to be willing to reduce the current 50 percent steel tariff.
The Commission said on Wednesday that the primary focus was to obtain a result that was negotiated to prevent 30 percent of threatening tariffs under threat.
At the same time, he planned to send a tariff to EU members for approval for EU members in US goods ($ 166 billion).
Votes are expected on Thursday, but no measures will be given until August 7.
A government representative said Germany supports the EU’s preparatory measures.
If Trump’s 30 percent tariffs are applied, EU diplomats also said that the block is a wide support to activate the extensive “anti-cheese” measures that allow the block to target US services and other sectors.
The EU seems to be following the footprints of Japan, the most important Trump, whose agreement with the United States has started in April.
European shares climbed about a percentage under the leadership of automobile stocks after the US-Japan announcement.
A striking feature of this agreement is that the same 15 percent of the EU, which is something that the EU may want for its own car exports, is valid for cars compared to the existing US tariff.
Last year, the US imported vehicles and automotive parts worth $ 55 billion (A84 billion) from Japan last year.
EU exports were 47.3 billion euros.
Many less US car was sold to the EU or Japanese markets.
EU officials, the US car tariffs show very few signs of budget, but the Japan agreement may indicate flexibility, he said.
“Whatever the Japanese will be minimum for EU negotiation targets, Sim said Simon Hithett, Geopolitical and Professor of Strategy at IMD Business School.
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