The EU Awaits Trump's Action This Week on Auto Tariffs and Exemptions

BlockBeats News, August 4th, sources said that the European Union expects U.S. President Trump to announce executive action this week to formally lower EU car tariffs and exempt tariffs on some industrial products such as aircraft parts.

Sources said that the two sides are also expected to issue a joint statement outlining the political commitments reached last month by Trump and European Commission President von der Leyen. According to the previously agreed terms, most of the EU's export products face a 15% tariff from the United States. Officials from both sides had previously said that this rate would also apply to cars, instead of the current 25%, as well as any future industry measures for pharmaceuticals and semiconductors. (Golden Finance)