Reuters: EU says concession to avoid US tariffs
Reuters reported on July 7 that the EU revealed on Monday that it has not received a letter from the US proposing higher tariffs, and is considering concessions to avoid a 10% base tax. It may exempt tariffs on products such as aircraft parts, medical equipment, and spirits, while allowing EU automakers to import more cars at a lower rate than 25%, particularly benefiting German automakers with large factories in the US. The European Commission informed EU envoys that it faces a choice between accepting an imbalanced agreement or more uncertainty, and cannot guarantee that the Trump administration will not impose further tariffs or demand additional concessions. Currently, EU exports face 50% tariffs on steel and aluminum, 25% on cars, and 10% on most products. The US is also considering new tariffs on pharmaceuticals and semiconductors.
Original article: https://www.toutiao.com/article/1837027454483659/
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