EU prepared to accept flat 10% US tariff with conditions, Handelsblatt reports

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EU prepared to accept flat 10% US tariff with conditions, Handelsblatt reports.

general :: 8hrs ago :: source - reuters

By Reuters

(Reuters) -Brussels negotiators hope that offering to accept U.S. tariffs of 10% across all of the European Union's exports into the United States will avert any higher duties on cars, drugs and electronics, newspaper Handelsblatt reported on Monday.

Citing high-ranking EU negotiators, the paper said the offer to U.S. counterparts would come only under certain conditions and would not be billed as permanent.

Handelsblatt also said the EU was, in return, ready to cut its tariffs on US-made vehicles, and to possibly change technical or legal hurdles to make it easier for US manufacturers to sell their cars in Europe.

The EU has also offered to completely ban purchases of Russian natural gas, potentially creating more demand for US producers.

The EU Commission did not immediately respond to a request for comment.

The EU's position comes partly from the realisation that President Donald Trump will rely on some tariff revenues to fund planned tax cuts.

US negotiators, however, have so far not agreed to limit their import duties on EU cars to 10%, the paper added.

(Reporting by Ludwig Burger; editing by Matthias Williams)

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