could rise to either 20% or 50%<\/a> on Aug. 1, after Trump postponed a July 9 deadline.<\/p>\nTrump is seen third from right alongside G7 leaders in Alberta, Canada on June 16. POOL\/AFP via Getty Images<\/p>\n
The UK, which runs a trade deficit with the US, accepted the 10% baseline tariff but failed to reduce it. However, it secured better terms on \u201csectoral\u201d tariffs.<\/p>\n
London received an annual quota of 100,000 cars at a 10% tariff, a discount from the 25% levy faced by other exporters, and a zero-tariff deal on steel and aluminium, which remains unimplemented.<\/p>\n
British negotiators also won a promise of \u201csignificantly preferential\u201d treatment on so-called \u201csection 232\u201d tariffs on pharmaceuticals, part of a US investigation still underway.<\/p>\n
The UK also obtained assurances on future 232 investigations into sectors like copper, timber and jet engines.<\/p>\n
In exchange, the UK pledged to meet US \u201crequirements\u201d on China\u2019s role in its supply chains and agreed to a tariff-free quota of 13,000 tons of beef and 1.4 billion liters of bioethanol.<\/p>\n
Trump has continued his criticism of the EU, calling the bloc \u201cnasty\u201d and claiming it was set up to \u201cscrew the United States.\u201d<\/p>\n
The EU, meanwhile, has no guarantees that steel tariffs would be cut from their current 50% level. The US has also declined to exempt the EU from future sectoral tariffs in pharmaceuticals and semiconductors.<\/p>\n
EU diplomats do not expect to secure the same access to the US market for British steel, cars and other products subject to sectoral duties.. a Mercedes-Benz assembly plant in Rastatt, Germany is seen above. Getty Images<\/p>\n
The two sides are working on reducing the 25% tariff on vehicles and are considering abolishing levies on spirits, aircraft, and parts. <\/p>\n
The EU is also prepared to reduce its $217.8 billion trade surplus by purchasing more US weapons and liquefied natural gas.<\/p>\n
David Henig of the European Centre for International Political Economy said the EU faced a harder task despite its larger size.<\/p>\n
\u201cConsidering the things Trump has said about the EU, a 10% tariff would probably be better than some were expecting, but this is still a blow to a bloc that started the process thinking they could remove all Trump\u2019s tariffs, and that the UK had made a mistake in settling,\u201d Henig told FT.<\/p>\n
The bloc has paused retaliation during talks, but $23.1 billion in counter-tariffs on annual US exports are scheduled to take effect July 14. <\/p>\n
The commission is preparing a $104.5 billion additional tariff package, including aircraft, alcohol and food, which would require member state approval.<\/p>\n
The Post has sought comment from the White House and the European Commission.<\/p>\n","protected":false},"excerpt":{"rendered":"European Union negotiators are nearing a trade deal with President Donald Trump that would slap the 27-member block…\n","protected":false},"author":2,"featured_media":251348,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,4],"tags":[748,51,32,393,1699,4884,1144,712,479,1201,1757,16,15,1764],"class_list":{"0":"post-251347","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-uk","8":"category-united-kingdom","9":"tag-britain","10":"tag-business","11":"tag-donald-trump","12":"tag-england","13":"tag-european-union","14":"tag-great-britain","15":"tag-northern-ireland","16":"tag-scotland","17":"tag-tariffs","18":"tag-trade","19":"tag-trump","20":"tag-uk","21":"tag-united-kingdom","22":"tag-wales"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114824518716579204","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/251347","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=251347"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/251347\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/251348"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=251347"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=251347"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=251347"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}