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.

European Union negotiators have failed so far to achieve a breakthrough in trade negotiations with the Trump administration and may now seek to extend the status quo to avoid tariff hikes, six EU diplomats briefed on the talks said on Friday.

The United States will place a lower-than-promised tariff on many Vietnamese exports, Donald Trump said, cooling tensions with its tenth-biggest trading partner days before the U.S. president could raise levies on most imports.

President Donald Trump’s new trade deal with Vietnam sends a clear signal about where US tariffs on Chinese goods might ultimately land, as talks between Washington and Beijing continue following their recent truce.