Negotiations for a trade deal between the U.S. and EU are taking place at Trump's golf course in Scotland, with discussions focusing on tariffs in key sectors like cars, steel, and pharmaceuticals. U.S. officials express cautious optimism about reaching an agreement which could see a baseline tariff of 15% on EU imports to the U.S. The EU has prepared counter-tariffs worth $109 billion against U.S. goods in case of failure to agree. There is potential for exemptions for specific industries, while additional purchases of U.S. liquefied natural gas are also on the table.
U.S. Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick flew to Scotland on Saturday. EU Trade Commissioner Maros Sefcovic arrived on Sunday morning.
EU diplomats have said a deal would likely include a broad 15% tariff on EU goods imported into the U.S., mirroring the U.S.-Japan trade deal.
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