The European Union is willing to accept a trade arrangement with the US that includes a 10% universal tariff on many of the bloc’s exports, but wants the US to commit to lower rates than that on key sectors such as pharmaceuticals,

The European Union is open to a trade agreement with the United States that would apply a universal 10% tariff on many of its exports, but the EU is seeking U.S. commitments to reduce tariffs in key sectors such as pharmaceuticals,