The EU is ready to slash tariffs on U.S. auto imports. A former U.S. envoy expects the U.S. to seek big overall changes to tariffs, and unfair non-tariff barriers.
The article from Forbes, published on February 8, 2025, discusses the European Union's proposal to offer the United States a unilateral tariff reduction on automobiles. This move is seen as an attempt to protect European car manufacturers from potential U.S. retaliatory tariffs. The EU's offer comes in the context of ongoing trade tensions, particularly with the backdrop of the U.S. considering imposing higher tariffs on European cars. The proposal aims to ease trade frictions by allowing more favorable market access for U.S. car exports into the EU, potentially averting a trade war that could harm both economies. However, the article notes that this offer might not be enough to completely resolve the issues, as it does not address other contentious points like digital services taxes and agricultural subsidies, which are also points of contention in U.S.-EU trade relations.
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