The European Union is poised to cut tariffs on US car imports from 10% to around 2.5% to avoid a trade conflict with Donald Trump’s administration. About this informs Financial Times.
“We can try to make a deal before we raise costs and tariffs.” – said Bernd Lange, head of the trade committee of the European Parliament.
According to him, the EU also plans to expand purchases of liquefied natural gas and military equipment from the USA. European automakers are backing the move, fearing possible US tariffs.
The reduction of rates will apply not only to the US, but also to China and other countries in accordance with the norms of the World Trade Organization (WTO). At the same time, the EU has already introduced tariffs of up to 35% on Chinese electric cars due to Beijing subsidizing their production.
We will remind that earlier US President Donald Trump announced his intention to introduce tariffs on products from EU countries.
