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BMW CEO proposes cutting EU tariff on United States lorry imports to 2.5%.

BMW will propose this week that the European Union lower its tariff on U.S. cars and truck imports to 2.5% from 10%, in line with the existing U.S. import tariff, the German automaker's CEO Oliver Zipse said on Tuesday.

New U.S. President Donald Trump has threatened to impose or raise tariffs on a range of products and areas, including the EU, triggering efforts by many foreign policymakers and companies to convince him otherwise.

Zipse, speaking at a conference in Berlin arranged by German publication Pass away Welt, did not broaden on whether his proposed lowered tariff needs to use to all car imports.

His comments come after Ola Kaellenius, chief executive of Mercedes-Benz and brand-new president of Europe's automobile association ACEA, said this month that the EU ought to look for a. grand deal with Trump to prevent a trade war.

The European Commission will host European automakers,. suppliers and trade unions for a preliminary of talks on Jan. 30. on the future of Europe's vehicle market, as companies reveal. plant closures and major layoffs in the face of weak demand,. high expenses, and competitors from China.

Trump did not immediately carry out the wide variety of. tariffs he had actually assured, however has actually said they are still an alternative.

Zipse formerly played down worries over the impact of. possible import tariffs under a Trump presidency on BMW, stating. its big production footprint in the U.S. might even give it an. advantage.

Our balanced global setup makes us durable and. competitive. However, free trade is of tremendous importance. worldwide ... That is why we need to be discussing less rather. than more trade barriers, Zipse stated.

(source: Reuters)