(Reuters) -The European Union must open up its markets for U.S. exports in order to convince U.S. President Donald Trump to reduce a threatened 30% tariff rate due to kick in on August 1, U.S.
US Commerce Secretary Urges Europe to Open Markets for Tariff Relief
Negotiations on Tariff Rates
(Reuters) -The European Union must open up its markets for U.S. exports in order to convince U.S. President Donald Trump to reduce a threatened 30% tariff rate due to kick in on August 1, U.S. Commerce Secretary Howard Lutnick said on Sunday, adding Brussels clearly wanted to make a deal.
Potential Outcomes of the Deal
"The question is, do they offer President Trump a good enough deal that is worth it for him to step off of the 30% tariffs that he set," Lutnick told "Fox News Sunday," adding that Trump was looking to increase access for U.S. firms.
Trump's Stance on Tariffs
He said the ultimate decision would be up to Trump, who has said there is a 50-50 chance a deal can be reached with the EU.
(Reporting by Andrea Shalal in Edinburgh and Ahmed AbouleneinEditing by Peter Graff)
