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Fox Business reports,

Germany’s chancellor said Thursday she’s willing to back lower tariffs on U.S. auto imports as a potential European Union (EU) concession to the Trump administration – just one day after CEOs of Germany’s biggest carmakers reportedly voiced support for eliminating such tariffs entirely.

...The EU tariff rate on all U.S. car imports is 10% while the U.S. tariff on imported European cars is 2.5%.

...Last week, President Trump threatened to impose a 20% tariff on imports of all vehicles assembled in the EU, though he is reportedly willing to scrap those plans if the EU reduces its levies. The potential tariff would hit Germany particularly hard as cars are one of their key exports: manufacturers in the country exported more than 4.3 million vehicles in 2017.

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