Just a few weeks after President Donald Trump launched a Commerce Department review of how auto imports might be hurting national security, Germany’s biggest automakers are ready to give up on the ten percent protective tariff wall that has shielded them from competition with U.S. cars, according to the Wall Street Journal. (WSJ)
Their proposal envisions full reciprocity between the U.S. and the European Union, according to the WSJ. The E.U. would scrap its ten percent tariff while the U.S. would give up its 2.5 percent tariff.
President Trump has repeatedly said that “reciprocity” should be a guiding principle for international trade.
For sure, this means more cars made here and sold there.
Winning!
I'm not tired of winning, CW.
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