FT: US and EU or close to a 50% tariff deal | investingLive

The FT is reporting that the US and EU are closing on a 15% tariff deal:

• US would waive tariffs on some products including aircraft, spirits, and medical devices
• EU could agree to the so-called reciprocal levies to avoid the US presence threat to raise them to 30% from August 1
• EU bloc will continue to prepare a possible EUR 93bln package of retaliatory tariffs, set at up to 30%, in case they cannot agree on a deal by August 1.:

UPDATE: Reuters is now reporting that an EU diplomat is reiterating what the FT hs already reported. The EU diplomat is saying that Brussels is looking to vote on the potential 93 billion package of retaliatory tariffs on Thursday.

• Broad majority of EU members would support using anti-coercion instrument in the event of note US trade deal and US tariffs of 30%.

Needless to say, the EU wants to get some concessions. Whether or not Trump and his team are willing to negotiate things like aircraft, spirits, medical devices is open for debate.