EU Confident US Tariffs Will Remain at 10%, Threat of 15% Eased
The European Union expects the United States not to raise the bloc's universal tariff on exports to 15%, even though US Treasury Secretary Scott Bessent said a 15% global tariff is "likely" to take effect this week.
According to sources familiar with the talks, the EU reportedly received assurances that the US would maintain the 10% universal tariff on bloc exports. Spokespeople for the Office of the US Trade Representative (USTR) and the European Commission declined to comment.
The 10% universal tariff was imposed last month after the US Supreme Court struck down much of the previous tariff regime, prompting the White House to use other legal grounds to impose temporary tariffs. Bessent said the increase to 15% is likely to take effect within a 150-day tariff period, while the administration prepares further review through other authorities such as Sections 301 and 232.
This uncertainty also relates to the EU-US trade deal announced last summer, which would impose a 15% tariff on most EU exports to the US and reduce tariffs on many US goods entering the EU, but the deal has not yet been ratified by the EU.
According to a previous Bloomberg report, the EU assessed that a universal 10% tariff on top of existing MFN tariffs could result in approximately €4.2 billion in EU exports facing cumulative duties above the 15% limit stipulated in the agreement, including a number of food products (such as cheese and butter), some agricultural products, as well as plastics, textiles, and chemicals; while some alcoholic beverages were said to potentially face tariffs below 15%.
Source: Newsmaker.id
