The European Union will not receive a letter from the Trump administration laying out higher tariffs and there is a possibility of exemptions from the U.S. baseline levy of 10%

The European Union will not receive a letter from the United States setting out higher tariffs, EU sources familiar with the matter told Reuters on Monday, and is eyeing possible exemptions from the U.

It wasn’t immediately clear if the EU would be able to secure tariff reductions for particular industries, such as automotive or steel, a key demand from member states including Germany. The EU currently faces 25% tariffs in the automotive sector and 50% tariffs on steel and aluminum.

President Donald Trump unveiled his most sweeping volley of tariffs yet — holding up large charts from the White House Rose Garden to outline new import taxes that the U.S. would soon slap on goods fr

The European Union still aims to reach a trade deal with the United States by July 9 after Commission President Ursula von der Leyen and U.S. President Donald Trump had a "good exchange", a Commission spokesperson said on Monday.

Even as President Donald Trump announced on Monday fresh tariffs for key trading partners that would take effect by Aug. 1, the European Union (EU) is reportedly striving to clinch a preliminary trade deal before the deadline.