Negotiations between the EU and the US regarding a long-standing trade dispute are reportedly making progress. German Chancellor Friedrich Merz announced potential imminent decisions to avoid a proposed 30 percent tariff on EU exports. There are indications that both sides could agree on a 15 percent tariff, akin to a recent deal with Japan. French President Macron emphasized the need for European leaders to maintain respect while seeking the lowest tariffs. The US Treasury Secretary noted significant improvements in negotiation progress, suggesting a compromise may soon be reached.
German Chancellor Friedrich Merz expressed optimism regarding ongoing trade negotiations, stating that decisions could be imminent as talks progress to avoid steep tariffs on European goods.
Both the US and EU are close to a compromise tariff rate of 15 percent on EU goods, which echoes a recent agreement between the US and Japan.
European leaders are coordinating their response to US pressure, with Macron emphasizing the desire for the lowest possible tariffs while maintaining respect as partners.
US Secretary of the Treasury Scott Bessent indicated that trade talks with the EU are progressing positively, highlighting better negotiations than previously encountered.
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