Bloomberg: EU wants to cancel tariffs on US goods this week for Trump deal

The European Union plans to adopt legislation by the end of the week that will abolish all duties on industrial goods from the United States. About writes Bloomberg, citing informed sources.

This is one of the key requirements of the President Donald Trump to reduce US duties on EU car exports.

According to the agency's sources, the European Commission will also provide preferential tariff rates for certain types of seafood and agricultural products from the United States.

Although the deal is more favorable to the US, the EU considers it necessary for business stability. President of the European Commission Ursula von der Leyen called it "solid, though not perfect."

Currently, US duties on EU cars and auto parts are 27.5%. Once the legislation is passed, they may be reduced to 15% retroactively, starting August 1, 2025.

Cars are one of the bloc's most significant exports to the United States. In 2024, Germany alone exported $34.9 billion worth of new cars and spare parts to the country.

The European Commission will skip the usual impact assessment procedure to speed up the adoption of the document, the agency's sources added.

• August 1, Trump increased duties to the highest level since the Second World War but it did not affect Ukraine.
• August 21 The United States and the European Union finally approved framework trade agreement, reached at the end of July.