US EditionRevving Towards Consensus: US-EU Race Against Tariff Time
GERMANY, JUL 09 – The European Union aims to finalize a deal before US tariffs resume on August 1, with German exports facing potential 10% duties, officials said.
- In 2024, the European Union shipped close to 758 thousand vehicles to the United States, with a total value of €38.9 billion, highlighting the high economic stakes amid rising tariff disputes.
- This trade follows Washington's April imposition of a 25% import duty on EU automobiles, with implementation postponed to August 1st.
- Intensive negotiations have been ongoing between Brussels and Washington to secure tariff reductions, import quotas, and potential export credits for EU carmakers with U.S. plants.
- German Chancellor Friedrich Merz expressed cautious optimism, stating efforts aim for a "quick and simple" deal as key industrial sectors depend on an accord.
- If successful before August, the agreement could alleviate steep tariffs and foster balanced growth despite unresolved challenges like U.S. hesitancy on quotas.
17 Articles
17 Articles
The European Union is increasing pressure in the customs dispute with the US. The EU is ready to negotiate, but does not want to be blackmailed by the US. According to the chairman of the Trade Committee, a solution must be found quickly.
Orsini and Martin: "The factories risk stopping." But Sefcovic: "Good progress."
Revving Towards Consensus: US-EU Race Against Tariff Time
Revving Towards Consensus: US-EU Race Against Tariff Time In a crucial race against time, the European Union and the United States are locking horns to secure a trade deal before the tariff deadline set by President Donald Trump. The primary focus remains on alleviating the substantial import duties on European automobiles.The ongoing negotiations aim to secure tariff cuts, import quotas, and potential credits for EU car manufacturers exporting …
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