Overview
- U.S. Trade Representative Jamieson Greer, who spoke on CNBC on Monday, said Washington will move forward with President Donald Trump’s plan to lift the tariff on EU cars and trucks to 25% after Friday’s announcement.
- As of Monday afternoon in Washington, the higher rate had not been formally adopted, leaving a short window for talks before any change takes effect.
- EU officials are racing for an off‑ramp this week, with Trade Commissioner Maroš Šefčovič set to meet Greer in Paris on Tuesday and Parliament–Council talks resuming Wednesday on legislation linked to the deal.
- The Turnberry agreement from July 2025 lowered the U.S. auto tariff to 15% for European vehicles in exchange for the EU dropping duties on U.S. industrial goods and accepting some U.S. vehicle standards, but EU ratification has moved slowly.
- Market pressure intensified on Monday as shares of German carmakers fell and Volkswagen’s finance chief reiterated that existing U.S. tariffs are already cutting the company’s earnings by about €4 billion a year.