EU, US Lay Out Next Steps on Tariffs to Rebalance Trade Ties

New vehicles ready for shipping in Emden, Germany.

Photographer: Ina Fassbender/AFP/Getty Images

Supply Lines is a daily newsletter that tracks global trade. Sign up here.

The US and European Union took the next steps to formalize their trade pact, detailing plans that could reduce tariffs on European automobiles within weeks while opening the door to new potential discounts for steel and aluminum.