The European Commission briefed EU ambassadors Wednesday on trade relations with the U.S., and said it was working on so-called rebalancing measures that would be ready immediately if the U.S. imposes levies on European car exports, said the person, who asked not to be named because the meeting was private.
When Commission President Jean-Claude Juncker meets with Trump on July 25, he’ll bring two main negotiating proposals in an effort to tamp down the escalating trade tensions: an offer to discuss the reduction of levies on cars and car parts among all major auto-exporting countries in a so-called plurilateral deal; and the possibility of broaching a limited free-trade agreement, according to a separate official familiar with the EU’s thinking.
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