Unilateral duties reductions requires the government of USA by EUthreatening 20%US “reciprocal” duties, according to the Financial Times.
According to the same report, US Representative Jameson Gree is expected to inform EU Trade Commissioner Maros Sefsovic that the proposal of a trade agreement submitted by Brussels to Washington does not cover the US.
Reuters reports that he was unable to immediately verify the newspaper’s information. Neither the European Commission nor the USTR services immediately responded when they asked them to comment on the report.
The US is applying 25% customs duties on cars, aluminum and steel, as well as 10% base duties to almost all other goods imported into the US market by EU Member States, having reduced half of their “reciprocal” duties that have been redeemed by 90 wider agreement.
In return, 27 suspended the duties that had announced that they would apply to retaliation for the US. The Commission then proposed zero duties for all industrial products on either side.
Trade negotiations are the responsibility of the European Commission. After any agreement is closed, it must be approved by the European Council, in other words the 27 Member States, and also ratified by the EC.