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EU's Agreement with the US May Differ from Japan and South Korea, Officials Suggest No Tariff Letter

EU's Agreement with the US May Differ from Japan and South Korea, Officials Suggest No Tariff Letter

Olof Gill, the spokesperson for the European Commission's trade department, stated that the EU is actively seeking to reach an agreement with the United States within the next two days and indicated that the EU is not expected to receive tariff letters like Japan and South Korea, suggesting that the agreement with the US may differ from those of other countries.

According to reports from The Guardian, the European Commission has submitted a brief draft of the agreement to EU member states, which mainly involves key industries such as automobiles, medical devices, and steel. The draft also includes a 10% basic reciprocal tariff to be imposed by the US on nearly all EU export products. This draft has sparked differing opinions within the EU, with hardliners arguing it is unacceptable while others believe it is the best outcome achievable at the moment, with hopes for further negotiations.

Gill further noted that the specifics of the agreement have not been disclosed, while European Commission President Ursula von der Leyen emphasized that the EU will stick to its principles, protect its interests, and be prepared for all possible situations. Reports suggest that while the EU hopes to reach an agreement with Trump swiftly, it is also ready to impose retaliatory measures on hundreds of American products if negotiations do not go smoothly.