Trade Agreement & Tariffs - EU is reportedly planning to remove some US industrial tariffs this week [1] - This move is a condition set by the US for the framework trade agreement with Brussels [2] - If the EU completes the legislative process, the US will lower auto tariffs on European cars from 275% to 15% [2] - The tariff reduction could be retroactive to August 1st if completed this week [2] Potential Obstacles - Digital taxes are a sticking point and a concern for the Trump administration [3] - The digital tax issue could derail the agreement or anger EU members who support their digital regulations and taxes [3][4] - The EU is trying to finalize the agreement quickly before President Trump makes negotiations more difficult [4] Impact on Auto Industry - German auto companies have a lot at stake in the quick implementation of the agreement [3]
EU to Propose Removing US Tariffs to Meet Trump Demand
Bloomberg Television·2025-08-27 13:03