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US to hold high tariffs on European cars until Brussels moves to cut tariffs on US goods

Framework deal pledges to cut 27.5% tariff once EU tables legislation, and both sides say they want swift actionWashington will not lower steep tariffs on European cars until Brussels has introduced legislation to reduce its own tariffs on US exports, maintaining pressure on the EU’s automotive industry.While the Trump administration has agreed to lower the current 27.5% US tariffs on European cars and car parts to 15%, details of a framework trade deal published on Thursday revealed the terms and conditions. Continue reading...

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