Financial Times: The U.S. and the EU are close to reaching a 15% tariff agreement

ChainCatcher news, according to a report by the Financial Times cited by Jinshi, the EU and the US are about to reach a trade agreement that will impose a 15% tariff on European imports, similar to the agreement reached by Trump with Japan this week.

Three informed sources stated that Brussels may agree to so-called reciprocal tariffs to avoid President Trump's threat to raise tariffs to 30% starting August 1. The sources also mentioned that both sides will exempt some products from tariffs, including airplanes, spirits, and medical equipment.

The sources indicated that they learned this 15% minimum tariff will include existing tariffs, and Brussels believes that the agreement essentially consolidates the status quo. The current 27.5% tariff on cars is expected to be reduced to 15%.

These individuals also stated that the EU will continue to prepare a retaliatory tariff plan that could reach up to €93 billion, with a maximum tax rate of 30%, in case an agreement cannot be reached before August 1.