French Minister Says 10% Tariffs Is Not a Good Deal for EU (1)

French Industry Minister Marc Ferracci said agreeing to 10% tariffs on European exports to the US would be a bad deal, signaling disapproval of a potential compromise with Washington.

The European Union has until July 9 to clinch a trade arrangement with Donald Trump before tariffs on nearly all exports to the US jump to 50%. Some members of the bloc are willing to accept a deal that includes keeping a 10% universal tariff on many of the bloc’s exports, but with lower rates in certain sectors, Bloomberg reported earlier.

“Ten percent is not a good deal and we all ...