EU and US Edge Towards Trade Deal with Higher Tariffs

Negotiators from the European Union and the United States are on the brink of finalizing a trade deal under the guidance of U.S. President Donald Trump, as reported by the Financial Times.

The agreement, which is expected to impose higher tariffs than those established with the UK, signals a shift in trade dynamics between the two economic powerhouses.

The proposed temporary framework suggests setting Trump's 'reciprocal' tariffs at 10% while negotiations continue. Reuters, however, has not confirmed this report at present.

(With inputs from agencies.)