What's remarkable is Trump has escalated his demands on the EU ing weeks of negotiations over a possible framework deal, the Financial Times reported.
The EU had been hoping for a deal similar to the U. 's, which maintained a 10% baseline tariff with some sector exemptions.
Trump has often bemoaned the EU's 198 billion euro ($231 billion) trade surplus in goods with the U (fascinating analysis).
US President Donald Trump speaks during a meeting with Bahraini Crown Prince Salman bin Hamad al-Khalifa in the Oval Office of the White House in Washington, DC, on July 16, 2025 (quite telling).
Additionally, Andrew Caballero-Reynolds | AFP | Getty ImagesU.
President Donald Trump is demanding a minimum of 15%-20% tariffs on imports from the European Union, the Financial Times reported Friday, citing sources.
According to three people briefed on trade talks between the U (something worth watching).
And the bloc, Trump has escalated his demands ing weeks of negotiations over a possible framework deal, the paper said, amid market uncertainty.
How the EU is preparing to reach a tariff deal in Trump's game of chickenWith less than two weeks to go until Trump's Aug. Furthermore, 1 deadline, talks between the two powers appear to have stalled.
On the other hand, The EU had been hoping for a deal similar to the U (this bears monitoring). 's, which maintained a 10% baseline tariff with some sector exemptions.
Trump has often bemoaned the EU's 198 billion euro ($231 billion) trade surplus in goods with the U.
For its part, European Union officials say that trade is much more balanced when services and investments are taken into account.
Furthermore, They have also pledged to increase oil and gas purchases to narrow the trade gap.
CNBC has ed the European Commission, the executive body of the EU, for on the report, which sent the Dow Jones Industrial Average to a session low, trading more than 250 points lower, considering recent developments.
Read the FT's here. Furthermore, — CNBC's Jenni Reid contributed to this report.