EU Drops U.S. Tariffs on Industrial Goods, Opening New Trade Pathways

The European Commission unveiled a plan to eliminate duties on US industrial products, paving the way for a trans-Atlantic trade agreement that will also retroactively lower tariffs on US car exports to the EU. This move comes as a response to ongoing tension between the two largest trading partners, aimed at easing the pressure on the U.S.-EU trade imbalance. While the terms are not fully balanced and both sides have undertaken concessions, this agreement promises to stabilize global trade relations.