As per the FT report, Brussels could agree to the so-called reciprocal levies to avoid the US President’s threat to raise them to 30 per cent from August 1.
Both sides would waive tariffs on some products, including aircraft, spirits and medical devices, sources told FT.
The Commission earlier said on Wednesday its primary focus was to achieve a negotiated outcome with the United States to avert 30% U.S. tariffs that Trump has said he will impose on the 27-nation bloc on August 1.
In 2024, the U.S. imported more than $55 billion of vehicles and automotive parts from Japan. From the EU, the equivalent figure was 47.3 billion euros ($55.45 billion), with far fewer U.S. models sold into the EU or Japanese market.
Trump announced two tariff deals on Tuesday — one with the Philippines and another with Japan, and both featured across-the-board duties on their imports that were lower than initially threatened. Also noteworthy was the 15% US levy on Japanese autos that was lower than the current 25% rate on major car exporters including the EU.
