Brussels seeks to approve the condition required by the US to reduce rates to European cars, a key sector that in 2024 exported US $ 34.9 billion only from Germany.
The European Union (EU) will try to approve by the fast track, before the weekend, legislation that eliminates all tariffs on industrial goods from USAa condition required by President Donald Trump for reduce US tariffs To the car exports of the block, Bloomberg News reported.
According to people familiar with negotiations, the European Commissionresponsible for community commercial policy, will also grant preferential rates to certain products of the sea and agricultural.
A favorable pact to the US
From Brussels they admit that the agreement reached favors Washington, but defends that understanding is necessary to provide companies with stability and certainty in a scenario of commercial tensions. The president of the commission, Ursula von der Leyenpreviously described it as “A strong, although not perfect agreement. ”
The decision even comes while Trump maintains the threat of imposing new tariffs and sanctions against countries that take digital services, without clarifying whether the EU would be included. The president has criticized the European technological and antimingolio regulation that affects giants such as Google (Alphabet) and Apple.
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The focus on the automotive industry
Currently, EU cars and auto parts face a tariff of the 27.5% Upon entering the United States. Although the signed trade agreement contemplates that almost all European products tax a reduced tariff of the 15%Trump warned that this reduction will not apply to cars until the elimination of industrial tariffs and other goods is formally legislated.
If the regulations are approved before the end of the month, the rate of the 15% On European cars will be applied with retroactive effect from the August 1. Automobiles are one of the main exports of the block to the US: only Germany sent vehicles and parts by 2024 by 2024 U $ 34.9 billion.
To meet the times, the European Commission decided to omit the traditional Impact assessmenta habitual step in these legislative processes, with the aim of moving as quickly as possible, according to sources that requested anonymity.
Source: Ambito
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