Brussels negotiators proposed a 10% tariff on the EU's exports to the U.S., aiming to prevent higher duties on key sectors. The EU also plans to reduce tariffs on U.S. vehicles and ban Russian gas to boost U.

“We still have a few weeks to have this discussion and negotiation,” French Trade Minister Laurent Saint-Martin said in Paris on Wednesday ahead of the OECD meeting. “If the discussion and negotiation do not succeed, Europe is capable of having countermeasures on American products and services as well.”