According to BlockBeats, insiders reveal that the European Union expects U.S. President Donald Trump to announce executive actions this week, officially confirming the reduction of tariffs on EU automobiles and exempting certain industrial goods, such as aerospace components, from tariffs.
Sources indicate that both parties are likely to issue a joint statement outlining the political commitments reached last month between Trump and European Commission President Ursula von der Leyen. Under previously agreed terms, most EU exports face a 15% tariff in the U.S. Officials from both sides have previously stated that this rate will apply to automobiles, rather than the current 25%, and will also influence future measures concerning the pharmaceutical and semiconductor industries.