This “deal” of sorts is something similar to the one with the UK, in which the 10% baseline tariffs will continue to be applied. However, unlike the UK, Trump is said to be wanting 17% tariffs on EU agrifood products as well. One of the EU sources noted that: “The UK agreement was better than this. It’s a surprise given how long we have negotiated.”
As things stand, talks between the two sides are continuing but this temporary “framework” agreement is expected some time later this week. For now, some from the EU camp are seeing that being able to hold the US at imposing 10% tariffs as being a “success”. Again, that just speaks to how Trump has managed to hoodwink the world into accepting tariffs as a good thing. Pfft. The full report can be found here (may be gated).
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