Stock market analytics, financial forecasts

Get the latest economic news from ForexMart, including updates on the financial market, central banks' policy announcements, financial indicators, and other relevant news which can have an impact on the industry.

Disclaimer:  Information provided here to retail and professional clients does not contain and should not be construed as containing investment advice or an investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance.

The EU is ready to cancel duties on US manufactured goods in order to reduce tariffs on cars


August, 27 2025
watermark Economic news

The European Union intends to adopt a law on the abolition of all duties on industrial goods from the United States by the end of the week. This step is a condition of President Donald Trump: in return, Washington will reduce tariffs on the European car industry.


According to sources, the European Commission will also provide preferential tariffs for certain types of seafood and agricultural products. Brussels recognizes that the agreement is more beneficial for the United States, but considers it necessary to ensure the predictability of business. The head of the European Commission, Ursula von der Leyen, called him «strong, although not perfect.»


The decision was made against the background of Trump's threats to impose new tariffs against countries that tax online services. The American president has long criticized the EU's policy towards Google, Apple and other US technology companies.


Currently, the export of cars and auto parts from the EU to the USA is subject to a duty of 27.5%. Despite the agreement to reduce most U.S. tariffs to 15%, Trump said it would not apply to the auto industry until the EU lifted industrial duties.


Cars remain a key export item: Germany alone supplied $34.9 billion worth of cars and components to the United States in 2024.



    






Feedback

ForexMart is authorized and regulated in various jurisdictions.

(Reg No.23071, IBC 2015) with a registered office at First Floor, SVG Teachers Co-operative Credit Union Limited Uptown Building, Corner of James and Middle Street, Kingstown, Saint Vincent and the Grenadines

Restricted Regions: the United States of America, North Korea, Sudan, Syria and some other regions.


© 2015-2025 Tradomart SV Ltd.
Top Top
Risk Warning:
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.
Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.