OR European Union is increasingly accepting the imposition of 10% duties as a basic line in any trade agreement between USA and the EU, according to a Reuters report.
President Donald Trump has announced extensive duties to commercial partners and wants to reduce the deficit of the US trade balance with the EU.
US Secretary of Commerce, Howard Lutnik, has ruled out below a basic 10% for so -called mutual duties that cover most of the EU goods to the US.
The EU is still pushing for the rate to be lower than 10%. However, according to Reuters, an EU official said that the negotiation to reduce the level has become more difficult since the US has begun to draw revenue from their global duties.
“10% is a difficult issue. We are pushing them, but now they get revenue, “the official said.
A second European source said that there was no 10% acceptance as a key rate in talks, but acknowledged that it would be difficult to change or abolish this basic level.