EU Trade Commissioner Maros Sefcovic has expressed approval of a presidential order from Donald Trump aimed at establishing a unified tariff framework between the EU and the US. This move could reduce tariffs on cars and parts to 15%, with important exceptions secured. The agreement, reached in August, outlines that the US may lower import tariffs on European car manufacturers if the EU removes tariffs on American vehicles.
EU Official Welcomes Potential Tariff Relief from the US
EU Official Welcomes Potential Tariff Relief from the US
EU Trade Commissioner Maros Sefcovic welcomes a presidential order from Donald Trump to implement a unified tariff framework between the EU and the US, Sefcovic writes on X.
"This paves the way for reducing tariffs on cars and parts to 15%," he writes.
The latest announcement from the US also secures important exceptions from the 15%, Sefcovic writes. "By respecting commitments, we can secure long-term success on both sides," Sefcovic writes.
In August, the EU and the US agreed on the framework for their tariff agreement in a joint statement. According to the agreement, the US may lower import tariffs for European car manufacturers to 15%, provided that the EU removes tariffs on American cars.
The current US tariffs on European vehicles stand at 27.5%.