Finance
Washington must swiftly cut auto tariffs after EU paves way, German car lobby says
Published by Global Banking & Finance Review®
Posted on August 30, 2025
1 min readLast updated: January 22, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on August 30, 2025
1 min readLast updated: January 22, 2026
The VDA urges Washington to cut auto tariffs to 15% after the EU begins removing duties, aiming to reduce financial burdens on the automotive industry.
FRANKFURT (Reuters) -Washington must swiftly honour an agreement with Brussels and cut tariffs on EU auto imports to 15% from 27.5% as of August 1 after the EU started the legislative process to remove duties on U.S. goods, Germany's auto industry association VDA said.
"For the automotive industry, the current high additional burdens mean considerable financial losses. Therefore, time is of the essence in providing rapid relief for companies in this area," VDA president Hildegard Mueller said on Friday.
(Reporting by Christoph Steitz, editing by Rachel More)
The automotive industry encompasses the design, development, manufacturing, marketing, and selling of motor vehicles, including cars, trucks, and motorcycles.
Financial burdens refer to the economic pressures that companies face, such as high costs or taxes, which can lead to financial losses.
The legislative process is the procedure through which proposed laws are debated, amended, and enacted by a legislative body.
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