Handelsblatt, a German newspaper, reported on Monday that the European Fee is ready to just accept a flat-rate United States (US) tariff of 10% underneath clear circumstances.
Further takeaways
Brussels negotiators hope {that a} flat tariff will avert larger US duties on vehicles, prescribed drugs, and microelectronics.
People haven’t but agreed to restrict their automotive tariffs towards the European Union (EU) to 10%.
If the US waives larger automotive tariffs, the EU will decrease its import tariffs on US automobiles and acknowledge sure American product requirements in future.
Market response
EUR/USD is holding larger floor close to 1.1585, on the time of writing, up 0.26% every day.
