The EU is also pushing the US 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 aluminum, the report said, citing people familiar with the matter.

Meanwhile, President Donald Trump is threatening to impose higher tariffs on Japanese exports to the United States over what he claims is the country’s unwillingness to buy American-grown rice.

“They won’t take our rice, and yet they have a massive rice shortage. In other words, we’ll just be sending them a letter, and we love having them as a trading partner for many years to come,” Trump said in a post on Truth Social.