The European Union will not receive a letter from the Trump administration laying out higher tariffs and there is a possibility of exemptions from the U.S. baseline levy of 10%

It wasn’t immediately clear if the EU would be able to secure tariff reductions for particular industries, such as automotive or steel, a key demand from member states including Germany. The EU currently faces 25% tariffs in the automotive sector and 50% tariffs on steel and aluminum.

President Donald Trump unveiled his most sweeping volley of tariffs yet — holding up large charts from the White House Rose Garden to outline new import taxes that the U.S. would soon slap on goods fr