EU expects exemption from looming U.S. tariff hike to 15%

Emirates 24/7 – The European Union expects to be spared from a planned U.S. hike in universal tariffs to 15%, despite Treasury Secretary Scott Bessent’s signal that the increase could take effect globally as early as this week.

The bloc has received assurances that the United States will maintain the current 10% universal tariff on EU exports, according to sources familiar with the matter who spoke on condition of anonymity.

Spokespeople for the U.S. Trade Representative (USTR) and the European Commission—the EU's executive arm responsible for trade policy—declined to comment.

Last month, President Donald Trump imposed a 10% blanket tariff after the Supreme Court invalidated much of his previous trade enforcement regime. While the U.S. President had threatened to raise the levy to 15%, he has yet to implement the move.

The developments come amid a delicate trade pact reached last summer, which proposed 15% tariffs on most EU exports in exchange for removing duties on various U.S. goods. However, the European Union has not yet ratified the agreement.

Earlier reports by Bloomberg indicated that the 10% blanket tariff would subject approximately 4.2 billion euros ($4.9 billion) of EU exports to duties exceeding the 15% cap established in the pending EU-U.S. deal.

Under the new policy, tariffs could surpass agreed limits on key European exports, including dairy products such as cheese and butter, certain agricultural goods, plastics, textiles, and chemicals, according to people familiar with the EU’s assessment. Conversely, other items, including certain spirits, are expected to face duties below the 15% threshold.