The European Union has proposed eliminating tariffs on industrial goods in a reciprocal deal with the Trump administration, following Washington’s move to introduce 20% tariffs last week.
“We have offered zero-for-zero tariffs for industrial goods as we have successfully done with many other trading partners,” European Commission President Ursula von der Leyen said Monday.
“Because Europe is always ready for a good deal. So we keep it on the table,” she stated during a joint press conference with Norwegian Prime Minister Jonas Gahr Støre.
Markets around the world have seen sharp declines since Trump declared April 2 as “Liberation Day,” unveiling a new 10% universal tariff rate, with even steeper import duties scheduled to kick in on April 9.
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