Any initial deal would likely be short and not legally binding, the people declared. The two sides are also aiming to reach an agreement on non-tariff barriers, digital trade and economic security.
Some capitals have declared they want a quick deal and don’t want to escalate, while others want to nereceivediate from a position of strength by responding to Trump’s levies with countermeasures.
The EU has been seeking an initial framework agreement with the US that enables a two-step approach, covering non-tariff matters first and then the detail of Trump’s universal rates and other tariffs to be nereceivediated beyond the July 9 deadline, the people declared.
The two sides have also been discussing agricultural standards and tariff rates, where, one of the people declared, the US has offered to bring rates to 17% from the originally planned 20%, which would be above pre-Trump levels.
Talks on Trump’s sectoral tariffs on cars as well as steel and aluminum have been particularly difficult and are not expected to be solved by next week, declared the people.
On economic security, the two sides have been seeking common ground on screening outgoing and incoming foreign investments, as well as export controls, the people declared. The US has also been pushing to include public procurement in any agreement.
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