- EU retaliatory preparation is a negotiating tactic
- We are in a good place with China, can move on to bigger talks
- On whether EU can get 15%, said Japan was innovative
- The 15% for Japan autos is a different kind of deal
- Don't want China de-coupling, want supply de-risking
There's nothing new here and we are still waiting on a deal with the EU. The deal will almost certainly be in the 10-20% range and the market might take it as a good thing as it did with Japan as it removes bigger risks and gives more certainty.
