French Industry Minister Marc Ferracci disapproves of a potential agreement that includes a 10% tariff on European exports to the US. The EU faces a deadline of July 9 to arrange a trade deal with the US, or tariffs could increase to 50%. Some EU members are willing to accept a 10% universal tariff, but the EU seeks lower rates for key sectors. Ferracci emphasizes the need for unity and considers a 10% tariff on the aeronautical industry to be highly detrimental.
"Ten percent is not a good deal and we all should find a way to get back to the former situation by negotiating with the US and the US administration."
"To achieve this goal we need to stay united and be very firm in our answer and really to take into account the actual impact of the tariffs on value chains."
"A 10% tariff for this industry would be a nightmare."
The EU is pushing for the US to commit to lower rates than the universal 10% tariff on key sectors such as pharmaceuticals, alcohol, semiconductors and commercial aircraft.
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