In a dramatic effort to defuse escalating trade tensions, the European Union has announced plans to fast-track the removal of all tariffs on U.S. industrial goods, aiming to push the legislation through by the end of this week. The move comes as part of a broader negotiation to secure a reduction in hefty U.S. tariffs imposed on European car exports.
This decision to bypass the usual thorough regulatory review underscores the urgency the EU feels under mounting pressure from Washington. The deal, reportedly brokered with input from multiple parties familiar with the matter, includes added trade incentives such as preferential treatment on seafood and agricultural products.
EU officials are candid that the measures are heavily weighted in Trump’s favor, but they argue the trade-off is imperative to restore stability and predictability following a tumultuous period of tariff threats and retaliatory moves.
