EU Firm on Tariff Stance Amid U.S. Negotiation Speculations

The European Commission rejects reports of accepting a 10% U.S. tariff on EU goods, maintaining its opposition to what it terms unjustified U.S. tariffs. Ongoing negotiations continue with a forthcoming meeting between Trade Commissioner Maros Sefcovic and U.S. Trade Representative Jamieson Greer at the G7 summit.

The European Commission dismissed recent reports that suggested it was ready to compromise on a broad 10% tariff imposed by the U.S. on EU goods. Calling the reports speculative, the Commission emphasized they do not align with ongoing discussions.

According to a German newspaper, EU negotiators appeared willing to accept these tariffs to prevent potential increases on cars, drugs, and electronics. However, the Commission has reiterated its objection to U.S. tariffs, labeling them as unjustified and illegal.

Upcoming negotiations will continue, with a meeting planned between European Trade Commissioner Maros Sefcovic and U.S. Trade Representative Jamieson Greer at the G7 meeting in Canada. Meanwhile, the EU navigates existing U.S. tariffs on key exports, with Trump maintaining a hard line during recent trade talks.

(With inputs from agencies.)