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,

President Trump's self-imposed July 9 deadline on tariffs is fast approaching, with the president and top administration officials providing mixed signals on its malleability while countries race to finalize talks.

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 on key sectors such as pharmaceuticals,