The EU may accept a 10% flat US tariff on exports but wants cuts on semiconductors, alcohol, pharma, and aircraft. Talks continue before Trump July 9 deadline, which could raise tariffs to 50%. EU is also pushing the U.S. to implement quotas and exemptions to effectively ease Washington's 25% tariff on automobiles and auto parts, as well as its 50% tariff on steel and aluminium, the report said.