(Holly Ellyatt – CNBC)
European officials are considering holding talks on a tariff-cutting deal between the world’s largest car exporters to prevent an all-out trade war with the U.S., according to the Financial Times who cited diplomats briefed on the matter.
The proposal is being looked at by officials in Brussels, the administrative heartland of the European Union, ahead of a meeting between Jean-Claude Juncker, the president of the European Commission, and President Donald Trump in Washington later in July, the report published Wednesday said.
The FT reported that three diplomats, which it did not name, said the European Commission “is studying whether it would be feasible to negotiate a deal with other big car exporters such as the U.S., South Korea and Japan.” Such a move could address Trump’s complaint that the U.S. sector is unfairly treated, while reducing export costs for other participating countries’ auto sectors. Click here to read more.
- EU Has No Easy Answers to Trump’s Car Tariff Threats (Wall Street Journal)
- U.S. Offers German Car Bosses ‘Zero Tariffs’ Solution to Trade Row – Handelsblatt (Reuters)
- Merkel Says Would Back Cutting EU Tariffs on U.S. Car Imports (Reuters)
- Shares of U.S. Car Makers Jump on Possible Scrapping of EU and U.S. Auto Tariffs (Proactive Investors)
- Trump is Trying to Destabilize the European Union (Washington Post)