BRUSSELS — The European Commission on Thursday proposed new legislation to eliminate tariffs on U.S. industrial goods, a move that should unlock a reduction in Washington’s own tariffs on European autos.
Putting forward the legislation is a precondition for President Donald Trump’s administration to drop tariffs on European cars to 15 percent from the current 27.5 percent. Under the terms of the transatlantic trade deal unveiled a week ago, the U.S. would in turn backdate the reduction in its auto tariffs to Aug. 1.
“The first act concerns a proposal to eliminate tariffs on U.S. industrial goods and provide preferential market access for a range of US seafood and non-sensitive agricultural goods,” the European Commission said in a press release.
“The second one proposes to prolong the tariff-free treatment of lobster, now including processed lobster.”
