EU Trade Commissioner Maroš Šefčovič on Wednesday expressed optimism after consultations with US Trade Representative Jamieson Greer in a bid to avert higher US tariffs on cars and vans.
Both sides must implement the trade deal between the European Union and the US agreed upon in July, Šefčovič said before the start of a meeting of trade ministers from the Group of Seven (G7) leading industrialized nations in Paris.
The focus lies on swift ratification of the agreement in the European Parliament. Šefčovič said he is counting on rapid progress.
On Friday US President Donald Trump announced his intention to raise tariffs on cars and trucks imported from the EU to the US to 25%, accusing the bloc of not adhering to the trade deal which limits US tariffs to 15% on most imports. The tariff hikes would hit Germany's large automotive industry.
German Economy Minister Katherina Reiche said on the sidelines of the G7 meeting that she hoped for a compromise with the US to avoid higher tariffs on cars and vans, after consultations with Greer and US Commerce Secretary Howard Lutnick.
