EU mulls lowering tariffs on U.S. imports to reach trade deal - WSJ

Investing.com -- The European Union is considering reducing tariffs on various U.S. imports as part of efforts to reach a trade agreement with President Trump, according to a report from the Wall Street Journal, citing sources familiar with the discussions.

EU leaders plan to discuss potential concessions during a meeting in Brussels on Thursday evening. Besides tariff reductions, they are also weighing options such as lowering non-tariff barriers, increasing purchases of American products including liquefied natural gas, and offering cooperation with the U.S. on addressing economic concerns related to China.

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Trade talks have accelerated in recent weeks following President Trump’s May threat to impose 50% tariffs on EU goods. Trump subsequently agreed to pause this action and continue negotiations until July 9.

Many European officials now believe the Trump administration intends to maintain its 10% baseline tariffs on EU imports. As a result, they have shifted their focus toward securing as many exemptions as possible to minimize economic damage from these and other levies, sources involved in the negotiations said.

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