A trade agreement between the European Union and U.S. could be imminent. But until a framework is announced, nothing is guaranteed. The EU is still working on potential countermeasures it could impose in a no-deal scenario. US President Donald Trump delivers remarks at the “Winning the AI Race” AI Summit at the Andrew W. Mellon Auditorium in Washington, DC, on July 23, 2025. Andrew Caballero-Reynolds | AFP | Getty Images
A trade agreement between the European Union and U.S. could be imminent, however with no guarantees Brussels continues to prepare retaliatory measures.
A 15% baseline tariff rate, which includes an around 4.8% duty currently in place, is currently the base-case scenario for EU imports to the U.S., an EU diplomat told CNBC on Wednesday. However, there could also be some exemptions that are still being worked