[EU Proposes Trade Deal: 10% Tariff For US Tariff Reductions] The European Union Is Negotiating A Trade Arrangement With The United States, Proposing To Accept A 10% Universal Tariff On Its Exports In Exchange For Lower US Tariffs On Key Sectors Like Pharmaceuticals, Alcohol, Semiconductors, And Commercial Aircraft. The EU Is Also Seeking Quotas And Exemptions On US Tariffs For Automobiles And Car Parts (currently 25%) And Steel And Aluminum (currently 50%). These Negotiations Are Crucial As The EU Faces A July 9 Deadline Before Potential 50% Tariffs On Nearly All Its Exports To The US. In 2024, EU Exports To The US Included $62.2 Billion In Cars And Car Parts And $24 Billion In Steel And Aluminum.

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