The US has proposed imposing a 10% tariff on the European Union along with restrictive clauses.

BlockBeats News, July 8th, an EU diplomat and an EU official said that the United States has proposed an agreement to the EU to maintain a 10% tariff on all EU goods, excluding sensitive industries such as aircraft and spirits.

The diplomats emphasized that the outline of the trade deal remains a moving target, and any agreement would need President Trump's approval to move forward. Washington has not indicated that it would exempt politically sensitive industries such as automobiles, steel, aluminum, or pharmaceuticals as requested by the EU. However, France, Italy, and Ireland may be pleased with the exemption on spirits and aircraft. (FXStreet)