The EU plans to reduce its tariffs to reach an agreement with Trump - WSJ

BRUSSELS - The European Union is considering lowering tariffs on a range of products imported from the United States in order to quickly finalize a trade agreement with President Donald Trump, according to sources close to the matter.

EU leaders are set to discuss the extent of the sacrifices they are willing to make to persuade Donald Trump in a meeting in Brussels on Thursday afternoon. Other anticipated concessions include reducing non-tariff barriers, purchasing more American products, including liquefied natural gas, and a proposal for cooperation with the United States to address its economic concerns regarding China.

Trade negotiations have accelerated in recent weeks after Donald Trump threatened to impose 50% tariffs on the EU in May, only to quickly agree to suspend them and allow discussions to continue until July 9.

Many European officials and diplomats are now resigned to the idea that the Trump administration has no intention of removing its basic 10% tariffs and are focusing on seeking maximum exemptions to limit the economic consequences of these taxes and other levies, according to sources close to the trade negotiations.

The conclusion of a trade agreement will likely depend on Donald Trump's ability, who said that the EU was created to "harm the United States," to claim a victory, the sources added. EU member states will also have to agree to the deal, which will largely depend on what the United States will offer in exchange for European concessions.$BTC $ETH $BNB #BTC110KToday? #BinanceAlphaAlert #BinanceHODLerSAHARA