EU trying into deal to offset US automotive exports towards imports – report

Indications around US-EU trade negotiations say the EU is aiming for some kind of framework by the fast-approaching July 9 deadline.

Now Reuters is citing two EU sources on some details:

• EU looking into a possible deal on cars to offset US car exports against imports
• EU may secure baseline tariff exemptions for aircraft and spirits
• Exemptions would remove 10% US tariff

It’s tough to believe that any trade deal is firming up when Trump can so-easily change his mind.

The report says the EU is ‘looking into’ an arrangement that would allow EU automakers that produce and exports cars from the US to import more EU vehicles at tariff rates below 2%.