EU closing in on ‘framework’ trade deal with US to avoid Trump’s 50% tariffs

News Snapshot:

The EU and US are closing in on a high-level “framework” trade deal that would avert 50% tariffs on all exports from the bloc next Wednesday, Donald Trump’s self-imposed deadline. Talks in Washington could go down to the wire, but diplomats and officials said the EU was willing to accept Trump’s 10% blanket tariffs. Negotiators will only accept this, however, in exchange for an extension in talks and possible concessions on a 25% car tariff, which is hurting the German car industry, sources said. Trump has threatened to impose 50% tariffs on all EU goods from 9 July unless the...