May. 21 at 9:21 PM
Rumour: EU has shared a revised trade proposal w/ the Trump Admin - includes a reduction of tariffs to zero on both sides for non-sensitive agricultural products as well as industrial goods. Also, outlines mutual investments & strategic procurement in energy, AI & digital connectivity
At the same time, EU is moving forward w/ preparing countermeasures if negotiations fail- plans to hit €95B of US exports w/ additional tariffs in response to President Trump’s “reciprocal” levies & 25% tariffs on cars & some parts.
EU agreed earlier this month to delay for 90 days the implementation of a separate set of retaliatory tariffs against the US over 25% duties imposed on the bloc’s steel & aluminum exports. President Trump lowered his so-called reciprocal rate on most EU exports to 10% from 20% for the same amount of time.
EU has declared as non-negotiable any unilateral demands that jeopardize EU’s autonomy in regulatory & tax matters
US has complained about EU digital rules & VAT
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