BlockBeats reported that on August 4, informed sources said that the EU expects U.S. President Trump to announce executive action this week to officially determine the reduction of EU auto tariffs and exempt tariffs on certain industrial products such as aircraft parts.
Informed sources indicate that both sides are expected to issue a joint statement outlining the political commitments reached last month between Trump and European Commission President Ursula von der Leyen. According to previously agreed terms, most EU export products face a 15% tariff in the U.S. Officials from both sides have previously stated that this tax rate will also apply to cars, rather than the current 25%, as well as to any future industry measures targeting pharmaceuticals and semiconductors. (Jinshi)