EU Expects Exemption from New U.S. Import Tariffs

The European Union anticipates an exemption from the upcoming U.S. global import tariffs increase to 15%. Bloomberg News reports assurances from the U.S. that the EU’s 10% tariff would be maintained. U.S. Treasury Secretary Scott Bessent confirmed the impending tariff hike, though Reuters couldn't verify these claims.

The European Union is optimistic about gaining an exemption from the upcoming increase in U.S. global import tariffs, set to rise to 15%. Sources cited by Bloomberg News indicate the U.S. has assured the EU that its current 10% tariff rate will continue.

U.S. Treasury Secretary Scott Bessent addressed the matter on Wednesday, indicating that President Donald Trump's decision could be enacted as soon as this week, escalating the tariffs temporarily from 10% to 15%.

Verification of these developments by Reuters remains pending, as the news agency has yet to confirm Bloomberg's report.

(With inputs from agencies.)