The European Commission is preparing to table emergency legislation this week that would scrap all tariffs on U.S. industrial goods, according to people familiar with the plan. The move answers President Donald Trump’s demand for full industrial tariff relief before Washington reduces its levies on European automobiles. Under the draft, Brussels would also grant preferential rates on selected U.S. seafood and agricultural products and bypass the usual impact assessment to accelerate the timetable. If the proposal reaches the Council and Parliament before the end of the month, the United States has said it will cut its tariff on European cars and parts to 15% from 27.5%, with the lower rate applied retroactively to 1 August. Automobiles are one of the bloc’s most valuable exports; Germany alone shipped about $34.9 billion of vehicles and components to the U.S. last year. Commission President Ursula von der Leyen has called the emerging accord “a strong, if not perfect deal,” while EU officials concede the terms favour the United States but argue that quick certainty is needed after years of trans-Atlantic trade friction. Trump, meanwhile, continues to threaten new duties on countries that tax digital services, a reminder that broader disputes with Europe remain unresolved.
If the EU proposes the legislation by the end of the month, then the 15% tariff rate on European cars will be back-dated to Aug. 1. https://t.co/OdsglOgYTQ
Por la vía rápida: La Unión Europea tratará de aprobar antes del fin de semana una legislación que elimina todos los aranceles sobre productos industriales de EE.UU., una exigencia de Trump antes de rebajar aranceles sobre los automóviles del bloque. https://t.co/FhUrzc3h8F https://t.co/gzkUPSHfrm
EU RUSHES TO SCRAP TARIFFS ON US IMPORTS IN EXCHANGE FOR TRUMP LOWERING DUTIES ON CARS: REPORT -- NY POST