EU ready to negotiate on car tariffs with Trump, trade commissioner says

POLITICO has the report, here.

In summary:

• The EU is open to reducing its 10% tariff on cars as part of broader negotiations with the U.S.
• EU Trade Commissioner Maroš Šefčovič signaled willingness to discuss a larger trade deal, including tech regulations and defense spending.
• President Trump has criticized the EU’s car tariffs and threatened “reciprocal tariffs” on various sectors, including autos, semiconductors, and pharmaceuticals.
• Šefčovič countered Trump’s complaints, arguing that the EU’s average industrial tariffs are comparable to the U.S. and highlighting the U.S. 25% tariff on pickup trucks.
• The U.S. trade deficit with the EU in goods was $235.6 billion in 2024, but including services, the deficit drops to around $50 billion.
• Šefčovič warned of retaliation if Trump imposes sweeping tariffs but emphasized hopes for a diplomatic resolution.
• Meetings planned with senior U.S. officials, including Commerce Secretary Howard Lutnick, Trade Representative-nominee Jamieson Greer, and senators from both parties.

This article was written by Eamonn Sheridan at www.forexlive.com.