EU Proposes Removing Tariffs on US Goods After Trump Demand

The European Union said it’s followed through on a demand by President Donald Trump and has adopted draft regulations to remove all tariffs on US industrial goods and give preferential treatment to some US agricultural and seafood products.

This will pave the way for the US to lower its tariffs on European cars and auto parts to 15% from 27.5%, according to a Thursday statement from the European Commission, which handles trade matters for the EU. The lower rate on cars will start retroactively from Aug. 1.