Overview

• The European Commission presented legislative proposals to eliminate most tariffs on U.S. industrial goods and to lower or quota‑limit duties on selected, non‑sensitive farm and seafood items, extending the lobster waiver to processed products.
• Brussels expects Washington to reduce tariffs on European cars from 27.5% to 15% retroactive to August 1, a change the EU estimates would save automakers roughly €500 million in one month.
• Most EU measures await approval by the European Parliament and Council, and the proposals are open‑ended but include the option for partial or full suspension if the EU deems the impact damaging.
• Separate steps taking effect around September 1 foresee zero or near‑zero tariffs in defined categories such as aircraft and parts, cork, and generic pharmaceuticals and inputs, as set out in the partners’ joint understanding.
• Spain’s government is gathering sector data to update a €14.32 billion support plan, while farm and fishing groups condemn the pact, plan protests for the September 22 EU Agriculture Council, and warn of possible tuna market dumping from diverted Thai supplies.