BlockBeats news, on July 23, according to the UK (Financial Times), the EU and the US are about to reach a trade agreement that will impose a 15% tariff on European imports, similar to the agreement reached by Trump with Japan this week. Three informed sources said that Brussels may agree to so-called reciprocal tariffs to avoid President Biden's threat to raise tariffs to 30% starting August 1.
Informed sources also said that both sides will waive some tariffs on products, including aircraft, spirits, and medical devices. The informed sources stated that they understood this 15% minimum tariff will include existing tariffs, and Brussels believes that this agreement essentially consolidates the status quo. The current 27.5% car tariff is expected to be reduced to 15%.
These individuals also stated that the EU will continue to prepare a retaliatory tariff plan that could be as high as 93 billion euros, with a maximum tax rate of 30%, in case an agreement cannot be reached before August 1. (Golden Ten)