The EU has the prerequisites for retrospective reduction in US tariffs on auto imports Germany and created other countries. The responsible EU Commission launched the legislative process for import eases in favor of certain US products in Brussels. Due to it, tariffs are to be fully abolished on US industrial goods and barriers for importing certain foods. In addition, the customs exemption for lobster from the USA be extended.
“It is in our mutual interest that both sides comply with their obligations and ensure the complete implementation of the agreement,” said EU trade commissioner Maros Sefcovic (59).
Concessions correspond to five billion euros
According to the Commission, the concessions reduce the burdens of US imports by around five billion euros. This corresponds to the estimated tariffs, which would otherwise have been due on industrial goods imports in the EU. The zero percent tumors should apply to all industrial products, for example for machines, cars and auto parts, wood, paper and cardboard, ceramics or leather.
In addition, the EU wants to introduce customs quotas for certain seafood and non -sensitive agricultural products such as nuts, dairy products such as yogurt, fruit and vegetables or pork, i.e. reduce the customs set for certain amounts to zero percent. “All products that are exported from the USA beyond this contingent are still subject to the usual tariffs,” explained an EU official.
The President of the VDA automotive association, Hildegard Müller (58), was satisfied. It is good that the EU Commission presented its proposal proposal as announced in August. Now you expect the United States to implement its part quickly.
Parliament and Council must deal with a proposal
The EU and the United States had a joint explanation on the basis of the trade agreements made in Scotland by EU Commission President Ursula von der Leyen (66) and US President Donald Trump (79) published. It states that the United States will retrospectively reduce its auto tariffs at the beginning of the month as soon as the EU initiates the legislative process for import relief in favor of certain US products.
Parliament and the Council must now approved the two proposals as part of the ordinary legislative procedure before the EU’s tariff cuts can come into force.