FRANKFURT (Reuters) -Washington must swiftly honour an agreement with Brussels and cut tariffs on EU auto imports to 15% from 27.5% as of August 1 after the EU started the legislative process to
Washington must swiftly cut auto tariffs after EU paves way, German car lobby
Impact of Tariff Reduction on the Automotive Industry
FRANKFURT (Reuters) -Washington must swiftly honour an agreement with Brussels and cut tariffs on EU auto imports to 15% from 27.5% as of August 1 after the EU started the legislative process to remove duties on U.S. goods, Germany's auto industry association VDA said.
Financial Burdens on Companies
"For the automotive industry, the current high additional burdens mean considerable financial losses. Therefore, time is of the essence in providing rapid relief for companies in this area," VDA president Hildegard Mueller said on Friday.
Legislative Process Initiated by EU
(Reporting by Christoph Steitz, editing by Rachel More)
