Overview
- The EU–US trade deal announced on July 27 set a 15% base tariff on most EU exports to the United States and remains under EU legislative review.
- German exports to the United States fell for the fifth straight month in August, and some traders are pulling back from the U.S. market, according to the BGA.
- U.S. tariffs on European cars were cut to 15% retroactive to August 1, yet Germany’s auto industry warns that the rate remains onerous and that new surcharges will hit commercial-vehicle makers.
- Germany’s machinery sector reports up to an additional 50% tariff on the steel and aluminium content of many machines on top of the base rate, with wider application and tougher documentation expected in December.
- China plans to end duties of up to 15% on some U.S. agricultural goods on November 10 and suspend 24% punitive tariffs for a year, while the U.S. Supreme Court takes up a case on the president’s tariff authority with the timing of a ruling unclear.