Big deal here. EU is acknowledging that "reciprorcal" tariffs of at least 10% are unavoidable. Lots of capitals thought even that was way too high. EU officials talking to team Trump are breaking the news to them that, unless they want to go nuclear, 10% is here to stay.

https://www.ft.com/content/4a04fcca-d9e7-48ec-a41a-5f4b11f162e8?accessToken=zwAAAZcYFt93kc9KBPzK2edI7NOkGl9LEfFi6A.MEUCIQCSbVlnmT0L6JEi8Enlb2Znr8rW0vZB-qsm70gc8842WAIgSEodQBTOWdp_1Y35IZqgzDdNy_SmnnwUwki0J6kWNEE&segmentId=e95a9ae7-622c-6235-5f87-51e412b47e97&shareType=enterprise&shareId=f287605b-3ebb-4641-8383-321729622377