EU nations seek quick US trade deal to prevent car tariff increase in World Economy News 05/05/2026 European Union countries are pushing for rapid implementation of the bloc’s portion of a trade agreement with the United States to prevent higher tariffs on automobiles. The European Parliament and the Council will continue negotiations on Wednesday regarding legislation to reduce EU duties on imported American goods. The Parliament seeks to establish several safeguards in the agreement. President Donald Trump announced on Friday plans to raise tariffs on EU cars and trucks to 25% this week, citing the EU’s failure to comply with terms of the deal reached at his Turnberry golf resort in Scotland in July. Nine months after the agreement, the EU has not yet eliminated tariffs on imported American industrial goods as both sides agreed. The European Parliament has paused legislation twice following Trump’s threats to impose new tariffs on European allies who did not support his proposed acquisition of Greenland, and his new import levy. EU member states largely favor a quick agreement between Parliament and Council on implementing the bloc’s obligations under the deal, Reuters reported on Monday citing EU diplomats. Manfred Weber, head of the centre-right European People’s Party, the largest group in the EU parliament, said negotiations should conclude swiftly to allow parliament to give final approval this month. Source: Investing.com 2026-05-05 hellenicshippingnews... tweet Share