Tariff crisis Trump's tariff policy

Report: EU sets new demands in tariff negotiations

The EU is taking a tougher stance in trade talks with the US and no longer wants to accept the general 10 percent tariffs – contrary to information reported on Monday. This is according to sources for the Financial Times.

The EU's trade chief, Maros Sefcovic, who is in Washington, has reportedly been instructed to demand an agreement with a lower tariff rate, as well as exemptions from even higher tariffs in certain sectors. The demands are said to come from several member states.

The White House is said to be open to a set-up similar to that between the UK and the US, where some tariffs remain while negotiations are ongoing.

Macron: Tariffs are being used as an instrument of blackmail

Emmanuel Macron is sharply criticizing what he describes as growing protectionist tendencies among the world's leading economies, writes Reuters.

At a conference in Spain, the French president has expressed that tariffs are increasingly used as a means of power, rather than as a legitimate trade policy tool.

– We must restore freedom and justice in international trade, rather than building walls of tariffs and barriers – which are often designed by the strongest powers and used as instruments of blackmail rather than restoring balance, Macron said.

He also called for support and renewal for the World Trade Organization (WTO), to better align its role with global goals of fighting inequality and climate change.

Sources: Trump's negotiators adjust tactics in the wake of the uproar

The 90-day pause in the introduction of new US tariffs ends on Wednesday next week. Now President Donald Trump's trade experts are shifting the focus of negotiations with many countries to reach agreements that prevent the harshest tariffs from being imposed, sources told the Financial Times.

This is partly about lowering the level of ambition in the negotiations. Previously, the American negotiators have tried to push through large, comprehensive agreements on trade with important countries. Now they are aiming instead to reach narrower agreements. At the same time, the sources state that they have taken a more “modest” line in the hope of reaching agreements in principle.