EU Seeks Urgent Tariff Relief in Crucial Trade Talks with U.S.

The European Union aims for immediate tariff relief in a trade deal with the U.S., expected by July 9. Key EU demands include reduced tariffs on cars and steel, even as tensions rise over asymmetrical concessions. A deal may include commercial aircraft, pharmaceuticals, and semiconductors.

The European Union is urgently seeking relief from tariffs in essential sectors as part of a trade agreement with the United States, scheduled for completion by a July 9 deadline. According to EU diplomats, the union expects some level of asymmetry, even in an ideal agreement.

This week, the European Commission is focusing on three main points during discussions in Washington, while accepting the U.S.'s unavoidable baseline tariff of 10%. Both parties are aiming for an agreement in principle, with detailed negotiations to follow. A recent brief from Washington outlined U.S. expectations from Brussels, with no reciprocation.

The EU is requesting reduced baseline tariffs to pre-Trump levels or a zero-tariff on sectors such as alcoholic beverages and medical technology, currently subject to a 10% U.S. tariff. Additional demands include addressing commercial aircraft, pharmaceuticals, and semiconductors, as well as negotiating car-related tariffs and steel import duties.

(With inputs from agencies.)