
US trade representative Jamieson Greer is preparing to tell European trade commissioner Maros Sefcovic today that a recent “explanatory note” shared by Brussels for the talks falls short of US expectations, the newspaper said citing unnamed sources.
The FT added that the EU has been pushing for a jointly agreed framework text for the talks but the two sides remain too far apart.
Reuters was unable to immediately verify the report. The European commission and office of the US trade representative did not immediately respond to a Reuters request for comment.
The US imposed 25% tariffs on EU cars, steel and aluminium in March and 20% tariffs on other EU goods in April. It then halved the 20% rate until July 8, setting a 90-day window for talks to reach a more comprehensive tariff deal.
In response, the 27-nation EU suspended its own plans to impose retaliatory tariffs on some US goods and proposed zero duties for all industrial goods on both sides.