Washington: US President Donald Trump announced on Wednesday that the United States is prepared to lower tariffs for the European Union if the bloc agrees to open its market to American businesses. Speaking at the AI Summit in Washington, DC, Trump highlighted efforts made to open markets in countries traditionally closed to American enterprises, and he confirmed that serious negotiations with the EU are underway to reach such an agreement.

According to Anadolu Agency, Trump referred to the recently completed trade agreement with Japan as a model for such negotiations, stating, "And we've made numerous other deals like that but opening up of a country is very important to us." He noted that while many countries have already opened their markets to the US, a "very simple tariff" would still be applied to certain nations, with tariffs ranging from 15% to 50%.

Trump clarified that the maximum 50% tariff would be reserved for countries with which the US has had strained relations, saying, "Because, we haven't been getting along with those countries too well. So we just say 'let's pay 50%.'" Furthermore, he mentioned successful agreements with the UK, the Philippines, and Indonesia, as well as ongoing efforts to finalize a trade deal with China.

However, the President emphasized that direct tariffs would be imposed on most other countries worldwide, noting the vast number of over 200 countries the US is dealing with. He remarked, "People don't realize that's a lot of deals. Even if you're like me, a deal junkie, that's a lot of deals."