EU trade negotiators have acknowledged they are unlikely to overturn US President Donald Trump’s “reciprocal” tariffs, warning European capitals that deeper concessions will be needed to avert a full-blown trade war.
Despite optimism in markets over progress in US-EU talks, senior EU officials have privately painted a bleak picture of negotiations that may force the bloc to accept higher US duties for the long term.
The European Commission has told EU member states that Trump’s 10 per cent “reciprocal” tariff on almost all goods will probably stay, according to officials and diplomats, although negotiators still hope to reduce the rate.
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