US President Donald Trump speaks during a gathering with Bahraini Crown Prince Salman bin Hamad al-Khalifa successful the Oval Office of the White House successful Washington, DC, connected July 16, 2025.
Andrew Caballero-Reynolds | AFP | Getty Images
U.S. President Donald Trump is demanding a minimum of 15%-20% tariffs connected imports from the European Union, the Financial Times reported Friday, citing sources.
According to 3 radical briefed connected commercialized talks betwixt the U.S. and the bloc, Trump has escalated his demands pursuing weeks of negotiations implicit a imaginable model deal, the insubstantial said.
With little than 2 weeks to spell until Trump's Aug. 1 deadline, talks betwixt the 2 powers look to person stalled.
The EU had been hoping for a woody akin to the U.K.'s, which maintained a 10% baseline tariff with immoderate assemblage exemptions.
Trump has often bemoaned the EU's 198 cardinal euro ($231 billion) commercialized surplus successful goods with the U.S.
For its part, European Union officials accidental that commercialized is overmuch much balanced erstwhile services and investments are taken into account. They person besides pledged to summation lipid and state purchases to constrictive the commercialized gap.
CNBC has contacted the European Commission, the enforcement assemblage of the EU, for remark connected the report, which sent the Dow Jones Industrial Average to a session low, trading much than 250 points lower.
Read the FT's afloat communicative here.
— CNBC's Jenni Reid contributed to this report.
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