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Investing.com -- Germany stated on Monday that the United States needs to implement previously agreed reductions in tariffs on European-manufactured automobiles before a broader trade agreement can be formalized.
"In particular, car tariffs must be reduced quickly as agreed. We are also aware of the considerable burden on the export-orientated economy. ... Our role here is to continue to fully support the European Commission in this process," a German government spokesman said during a press conference.
The European Union and the United States reached a framework trade agreement in late July, but many important details still require clarification.
The German government’s statement highlights the ongoing negotiations between the two economic powers, with automotive tariffs emerging as a key point of contention that needs resolution before the comprehensive trade deal can move forward.
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