EU-US trade deal: Trump hints at tariff reduction if EU opens markets

US President Donald Trump has offered to lower tariffs on the import of European products if the European Union opens its market further to the US.

At an AI event, Trump said of the ongoing negotiations: "If they agree to open the Union to American companies, then we will levy a lower tariff." He added that serious negotiations were underway.

German Chancellor Friedrich Merz had previously indicated that an agreement could be imminent in the trade dispute between the EU and the US. Before his meeting with French President Emmanuel Macron, Merz said in Berlin that they would be discussing "current trade policy", "on which we hear in these minutes that there might be decisions".

Trump recently agreed with Japan on tariffs of 15 percent. This is significantly less than originally planned. The US has also been negotiating a trade deal with the EU for weeks, which is intended to prevent the 30 percent tariffs announced by Trump from August 1.

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