EU Rushes to Conclude Framework Trade Deal With US This Week
Operations at the HHLA Hamburg Container Terminal Altenwerder in the Port of Hamburg.
Photographer: Krisztian Bocsi/BloombergThe European Union is seeking to conclude a preliminary trade deal with the US this week that would allow it to lock in a 10% tariff rate beyond an Aug. 1 deadline as they negotiate a permanent agreement.
The EU is seeking an exemption from the 10% rate for certain key products including aircraft, aircraft parts as well as wine and spirits, according to people familiar with the matter. Some form of relief is expected as part of the agreement in principle.