TechFlow news, June 19 — According to Jinshi Data, five sources familiar with the negotiations said European officials are increasingly accepting a 10% "reciprocal" tariff as the baseline for any trade deal between the U.S. and the EU. Previously, U.S. President Trump announced broad tariffs on trading partners, and U.S. Commerce Secretary Lutnick has ruled out setting the "reciprocal tariffs" on most EU exports to the U.S. below 10%. The sources said EU negotiators are still pushing to bring the rate below 10%. But one source noted that tariff-reduction talks have become more difficult since the U.S. started generating revenue from its global tariffs. "Ten percent is a sticky issue. We're pressuring them, but now they're earning income," he said. Another European source said the EU hasn't accepted 10% as the benchmark rate in negotiations, but acknowledged it's hard to change or eliminate this benchmark.
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