Fox is reporting Germany’s largest auto makers has back the abolition of EU-US car import tariffs. This is a major win for President Trump.
The U.S. ambassador to Germany returns to Washington today with a tariff peace offering.
Richard Grenell will present a proposal from Germany's leading automakers, calling for doing away with all import tariffs for cars between the European Union and the U.S.
That would mean scrapping the EU's 10% tax on auto imports from the U.S. and other countries and the 2.5% duty on auto imports in the U.S., according to Dow Jones.
In return, the Europeans want President Trump's threat of imposing a 25% border tax on European auto imports off the table.
Grenell held meetings with the CEOs of Daimler, BMW and Volkswagen, which operate plants in the U.S.
Overall, Germany's auto makers and suppliers provide 116,500 jobs in the U.S., according to the Association of German Automotive Manufacturers.
This is great news for U.S. car companies. Will we start to see Dodge Challengers, etc, on the streets of Europe in the coming years?