The EU hopes the deal will draw a line under months of uncertainty, shifting deadlines and threats from Mr Trump, which have defined the fractious trade negotiations. The cap would also cover two sectors Mr Trump has promised to introduce tariffs on at a later date, pharmaceuticals and semiconductors. US commerce secretary Howard Lutnick travelled from Washington to Scotland on Saturday, with EU trade commissioner Maros Sefcovic flying in from Brussels. That agreement saw Japan accept 15 per cent tariffs on its products sold to the US. However, if the US pushes ahead with its threatened 30 per cent tariffs on EU goods, the EU is ready with counter-tariffs on €93 billion worth of US exports, he said.

Source: The Irish Times July 27, 2025 19:16 UTC