Carmakers Seek to Offset Tariffs as EU-US Trade Talks Near End

Some European Union carmakers and capitals are pushing for an agreement with the US that would allow for tariff relief in return for increasing investments in the US, according to people familiar with the matter.

The EU has until July 9 to clinch a trade arrangement with Donald Trump before tariffs on nearly all of the bloc’s exports to the US jump to 50%. The US president has imposed tariffs on almost all its trading partners, saying he wanted to bring back domestic manufacturing, needed to pay for a tax-cut extension and stop other countries from taking advantage of the US.