President Donald Trump is pressing for a minimum tariff of 15% to 20% on all goods imported from the European Union, the Financial Times reported, citing people briefed on the discussions. The demand has been conveyed during ongoing trade negotiations between Washington and Brussels and would apply across sectors, marking a fresh escalation of the administration’s "America First" trade agenda. The proposal would replace an earlier internal U.S. draft that floated a 30% rate, yet it still far exceeds current average duties and would be imposed even if broader talks yield a deal, according to the report. Trump has also rejected EU requests to lower the existing 25% levy on EU-made cars, the FT said, underscoring the limited progress in the discussions. The news rattled financial markets. The euro slipped to $1.1635 and U.S. stocks moved lower shortly after the report, as investors assessed the prospect of higher trans-Atlantic trade barriers. The tariff push comes three months after Washington’s 145% duty on Chinese imports took effect, reinforcing worries of a widening global trade confrontation. European officials delivered a downbeat assessment of the latest talks in Washington, the FT added, suggesting a negotiated compromise remains distant.