Stronger competition
Deal with Trump: US cars should soon come to EU duty-free
Many details of the trade deal between the EU and the USA are not yet known. Now, however, something is confirmed that European car manufacturers should not look forward to.
Cars from the United States are to be imported into the European Union as part of the trade deal with US President Donald Trump in the future. This was confirmed by an EU official in Brussels a day after setting in Scotland. So far, the EU has raised an inch of ten percent on car imports from the USA.
“We are ready to go to zero,” said the official. However, the prerequisite is that the United States adhere to their part of the agreement and reduce the currently due US tariffs to auto imports from the EU from the current 27.5 to 15 percent.
For the European Auto industry, the EU’s promise means that it will have to expect stronger competition from US manufacturers in the future. In addition, she will have to live with the new 15 percent customs in the future. Before Trump’s taking office, the duty was 2.5 percent.
Donald Trump’s deal: 15 percent are due on EU cars
The EU Commission President Ursula von der Leyen explains, among other things, that the EU would still be in the amount of 30 percent without the agreement.
In addition, the EU points out that due to pay decisions from the first months of Trump’s second term of office, tariffs of 27.5 percent are currently being raised to the import of European cars in the USA.
The deal for the defusing of the monthly customs conflict was agreed on Sunday at a meeting of EU Commission President Ursula von der Leyen with US President Trump in a golf hotel of the US president in the Scottish turnberry. It also provides that the EU should buy significantly more energy in the United States in the future and increase investments there.
German industry: “Inadequate compromise”
Only a limited number of goods should not be due in the future. According to EU Commission President Ursula von der Leyen, this includes, for example, aircraft, certain chemicals, agricultural products and critical raw materials.
The Federal Association of German Industry (BDI) said in a first reaction that the Convention was an inadequate compromise that was sending a fatal signal to the tightly intertwined economy on both sides of the Atlantic. A 15 percent duty rate will also have an immense negative effects on export -oriented German industry.
Dpa
ari
Source: Stern
I have been working in the news industry for over 6 years, first as a reporter and now as an editor. I have covered politics extensively, and my work has appeared in major newspapers and online news outlets around the world. In addition to my writing, I also contribute regularly to 24 Hours World.
