Politico reports EU says it is willing to scrap car tariffs in US trade deal.
>“We said that we are ready from the EU side to go to zero tariffs on all industrial goods, of course if the U.S. does the same, so it would be on a reciprocal basis,” Malmström told the European Parliament’s trade committee.
>“We are willing to bring down even our car tariffs down to zero … if the U.S. does the same,” she said, adding that “it would be good for us economically, and for them.”
>The EU’s car tariff of 10 percent is higher than the general U.S. auto tariff of 2.5 percent, but America imposes a 25 percent duty on light trucks and pickups.
I called Trump's free trade proposal a bluff.
Dear Donald Trump ...
Please prove me wrong. As a free trade advocate, I will be more than pleased to admit I was wrong.
Mike "Mish" Shedlock