EU to accept Trump's broad tariffs but seek key exemptions: report

The European Union is willing to accept a trade deal with the United States that includes a general tariff of 10% on many EU exports, but the EU wants the United States to commit to lower tariffs on key industries such as pharmaceuticals, alcohol, semiconductors and commercial aircraft, according to people familiar with the matter. The EU is also pushing the United States to set quotas and exemptions to effectively reduce the 25% US tariff on cars and auto parts, and the 50% tariff on steel and aluminum. EU trade chief Maros Sefcovic will lead a delegation to Washington this week to push for progress in the negotiations, the sources said. The European Commission also wants to ensure that current US sectoral tariffs, such as cars and metals, as well as future tariffs planned by the United States, are addressed.