According to online reports, Portugal Finance Minister Joaquim Miranda Sarmento said he expected the EU and the United States to reach an agreement that could have a tariff rate below 10%, which would help keep trade smooth. "It is possible to reach a very low tariff agreement, an agreement that is mutually beneficial, that allows us to continue trading and create more value for our citizens," Sarmento told Bloomberg Television in an interview in Brussels. "We look forward to" getting an update on the progress of negotiations between the European Commission and the U.S. government "at the EU finance ministers 'meeting on Monday and Tuesday. When asked how low the tariffs might be, he later said,"It's likely to be below 10%, but let's see how the results come out."