EU and US Strike Asymmetric Trade Deal Amid Tariff Tensions

The European Commission on Thursday introduced a proposal to eliminate duties on imports of U.S. industrial goods. The move is part of a larger agreement seeking to reduce U.S. tariffs on European cars, a cornerstone of a recent trade arrangement between the EU and the United States.

The deal marks the EU's initial action toward implementing a broader trade framework agreed upon by U.S. President Donald Trump and Commission President Ursula von der Leyen on July 27. This framework aimed to avoid a trade war, with the EU accepting a 15% tariff on goods.

Despite these efforts, U.S. tariffs remain a significant issue, affecting 70% of EU exports. However, some products including steel, aluminium, and copper face higher tariffs of 50%. Digital services were scarcely addressed, yet Trump threatened further tariffs on nations with digital taxes.