EU ready to sign trade deal with US with 10% tariffs

The European Union is open to a trade agreement with the United States that would apply a universal 10% tariff on many of its exports, but the EU is seeking US commitments to reduce tariffs in key sectors such as pharmaceuticals, alcohol, semiconductors, and commercial aircraft, Report informs referring to Bloomberg news.

EU is also pushing the US to implement quotas and exemptions to effectively ease Washington's 25% tariff on automobiles and auto parts, as well as its 50% tariff on steel and aluminum, the report said, citing people familiar with the matter.