The European Union is open to a trade deal with the US that includes 10% tariffs, but demands cuts in key sectors.

The European Union is willing to negotiate a trade deal with the United States, accepting 10% tariffs but demanding cuts for key sectors such as cars and steel. The commission says the deal could benefit the US but is still acceptable. The EU has until July 9 to reach a deal, or tariffs on European exports to the US could rise to 50%. Both sides are optimistic, but the EU is preparing retaliatory measures in case of failure.