The EU is close to a deal with the US: "Tariffs at 15%, including on cars." But Trump's approval is still missing.

The magic number could be 15. After months of grueling negotiations , European and American negotiators are reportedly close to reaching an agreement on reciprocal tariffs between the European Union and the United States at 15% . But Donald Trump's final approval is still lacking. Without an agreement, tariffs of 30% will take effect on August 1, as announced and threatened by the US president. Brussels, as the Financial Times explains, could accept the proposal to avoid even higher percentages.

Since the beginning of April, EU goods exported overseas have been subject to a 10% tariff, in addition to the existing duties of around 4.8%, as provided for by the Most Favored Nation (MFN) clause . According to sources cited by the British newspaper, the new tariff will include existing duties, leaving them virtually unchanged.

For EU diplomacy, this would be a consolidation of the status quo . According to the FT , even the tariffs on cars, currently at 27.5% (25% + 2.5%) would drop to 15%. The plan, diplomatic sources confirm, includes some exemptions yet to be defined. The EU could in turn reduce its tariffs on US products to the level of the MFN clause or to 0% for some products.

US-EU negotiations at a standstill

The Commission confirmed on Wednesday, July 23, that it will present a single list of goods subject to tariffs worth €93 billion , with tariffs of up to 30% if an agreement is not reached by August 1. The EU countermeasures would not enter into force before August 7. During the Coreper meeting, a majority of ambassadors from the 27 EU member states agreed that if negotiations fail to produce an agreement, they would support the use of countermeasures . This instrument, designed to protect the European market from China, would thus be used against the historic ally, excluding American companies from the Old Continent. "Only France has called for the immediate implementation of countermeasures," a source highlighted. The vote will take place tomorrow, Thursday, July 24, in the Committee on Trade Barriers.