EU pushes for lower US car tariff in trade deal outline
As trans-atlantic partners determine the details of the framework trade agreements made in July, EU Trade Chief Maros Sefcovic will endeavor to ensure that the US tariffs of the European Union are applied back to automobile exports.
In a joint statement, the two sides said that 15 percent of the US tariffs will be implemented for EU imports, and the EU has included the commitment to eliminate tariffs on US industrial goods and provide preferential market access for a wide variety of US seafood and agricultural goods.
When Washington introduces the legislation of Brussels to make the promised tariff interruptions on US goods, he said he would take steps to reduce US tariffs in car and car parts, which are a major load for European car manufacturers, 27.5 percent.
On Thursday, he said that the tariff assistance in the US automobiles and automobile parts will begin on the first day of the EU’s legislation on the first day of the month.
Sefcovic said that the European Commission is “solid intention” to make a proposal until the end of the month, so the reduction of the US automobile tariff will be valid as of August 1st.
European car manufacturers “I hope weeks” can be relieved from the US tariffs, he said.
“It is not possible to introduce this legislation – and I don’t mean to pass it and apply it, but really introduce – then we’ll be in a position to relax. And I will say that both sides are very interested in moving quickly.” He said.
US President Donald Trump and the European Commission President Ursula von Der Leyen announced on July 27 at the luxury golf field in Scotland after Trump’s negotiations for months.
This week, the two leaders came together again as part of the negotiations aimed at ending Russia’s war in Ukraine, and both praised the trade framework agreements as a historical success.
The joint statement said it could be expanded over time to cover additional areas of the agreement and to further improve market access.
The joint statement enabled “a game to keep each other responsible” and the commitments announced in July.
He said that the US aircraft and parts of the United States, generic pharmaceuticals and materials, chemical pioneers, and natural resources, including Cork, have accepted only the most current nation tariffs under 15 percent.
This exemption, wine or souls are valid to include a key EU demand, but the two sides agreed to think for closing other sectors and products.
“So these doors are not closed forever, Sef Sefcovic said, as it would not be easy to provide exemption for alcoholic beverages.
The description reiterated the EU’s intention to purchase a $ 750 billion in the US -liquefied natural gas, oil and nuclear energy products, as well as the intention of purchasing US $ 40 billion US -made US -made artificial intelligence chips.
In addition, EU companies have repeated the intention of investing an additional $ 600 billion in the US strategic sectors by 2028.
Both sides decided to address “unfair digital trade barriers” and the EU agreed not to adopt network usage fees.
