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The EU has proposed the elimination of US tariffs on goods to encourage the US to reduce auto tariffs.
By: theblockbeats.news|2025/08/29 00:02:27
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BlockBeats News, August 28th, the European Commission proposed on Thursday local time to lift import tariffs on U.S. industrial goods as part of a trade deal with the United States, which is expected to lead to a retroactive reduction in U.S. tariffs on European cars. This proposal is the first step in implementing a framework agreement reached on July 27th between U.S. President Trump and European Commission President von der Leyen. Under the agreement, the EU agreed to a 15% tariff on a wide range of goods to avoid a destructive trade war. The U.S. has agreed to reduce tariffs on EU-produced cars from 27.5% to 15% starting from the first day of the month following the EU's legislative proposal submission, which was August 1st. (Golden Finance)
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