06:04 AM EDT, 05/02/2025 (MT Newswires) -- The European Union aims to raise purchases of US goods by 50 billion euros ($56.77 billion) in a bid to resolve trade tensions, the Financial Times reported Thursday, citing EU trade commissioner Maros Sefcovic.

Europe seeks a fair agreement with the Trump administration, but does not consider a 10% tariff on its exports an acceptable outcome, Sefcovic told the news outlet.

He reportedly said that the trade shortfall with the US could be closed quickly with additional imports of US liquefied natural gas and agricultural items like soybeans.

Discussions with US trade representative Jamieson Greer and Commerce Secretary Howard Lutnick have advanced through several in-person and phone meetings, the FT reported, citing Sefcovic.

However, it's likely to be "very difficult" to reach a deal that's "clearly good and acceptable for our member states and our European parliament," the publication quoted Sefcovic as saying.

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