MNI: EU Says US Talks On Pause Pending Trump Announcement

EU-U.S. trade talks have ended for the moment pending an expected announcement by President Donald Trump later on Friday, EU sources said. 

One EU source said that Trade Commissioner Maros Sefcovic spoke with USTR Jamieson Greer Thursday afternoon Brussels time, only to be informed that "now all is in the hands of Trump." 

Trump subsequently publicly promised to "send a letter in a couple of hours", sources said, though whether this will be a definite deal or a temporary one remains unclear. 

Sources are still expecting any deal announcement to come with a 10% baseline tariff, but it remains to be seen what carve-outs the EU has managed to win for key sectors and what the EU has offered the U.S. in return in terms of granting opt-outs for U.S. firms from EU regulations.  (See MNI: EU-US Deal Hinges On Rule Exemptions Vs Market Access)

EU ambassadors will meet later on Friday to prepare a meeting of EU trade ministers on Monday, where any deal and possible responses to it could be discussed by member states.