Bloomberg announced the EU's intention to conclude a trade agreement with the United States with 10% duties.
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- Bloomberg announced the EU's intention to conclude a trade agreement with the United States with 10% duties.
The European Union (EU) intends to conclude a trade agreement with the United States on the condition of a 10% tariff on exports, before they increase to 50% on August 1. This was reported by Bloomberg on July 7.
"The European Union has stated that it is approaching the conclusion of a framework trade agreement with the United States after the head of the bloc's executive body, Ursula von der Leyen, had a telephone conversation with US President Donald Trump on Sunday (July 6)," the agency notes.
According to Bloomberg, the EU wants to strike a deal on a 10% tariff on almost all exports. The EU expects lower rates in sectors such as pharmaceuticals, alcohol, semiconductors and commercial aircraft. The agreement may also affect tariff mitigation in the automotive industry. According to the EU, the agreement will highlight the issues of non-tariff barriers, economic security and digital trade.
On the same day, Trump announced that from August 1, the United States would impose duties of 25% on all goods of Korean and Japanese origin imported into the country. According to him, the United States is ready to continue trade with Korea and Japan, but intends to achieve a more balanced relationship. He clarified that the new tariffs should compensate for the long-term trade deficit caused by the tariff and other policies of these countries.
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