If there is no deal and the US imposes 30 per cent tariffs, the EU has prepared counter-tariffs on US$109 billion of US goods
European Commission President Ursula von der Leyen is set to meet US President Donald Trump on Sunday to clinch a trade deal for Europe that would likely see a 15 per cent baseline tariff on most EU goods, but end months of uncertainty for EU companies.
US and EU negotiators huddled in final talks on tariffs facing crucial sectors like cars, steel, aluminium and pharmaceuticals before the meeting, which is expected at 15:30 GMT on Trump’s golf course in Turnberry, western Scotland.
US Trade Representative Jamieson Greer and Commerce Secretary Howard Lutnick flew to Scotland on Saturday, and EU Trade Commissioner Maros Sefcovic arrived on Sunday morning.
Lutnick told “Fox News Sunday” that the EU needed to open its markets for more US exports to convince Trump to reduce a threatened 30 per cent tariff rate that is due to kick in on August 1.
