The aim is to remove all tariffs on industrial products from the USA by the end of the week, reports Bloomberg with reference to anonymous sources.
The EU Commission, which is responsible for trade policy in the EU, is also reported to introduce favorable tariff levels on certain food products from the USA, according to the news agency's sources.
The Trump administration has introduced tariffs of 27.5 percent on cars and car parts from the EU that are imported to the USA. And to get this tariff rate down to 15 percent, President Donald Trump has demanded the removal of tariffs on, among other things, industrial goods from the USA.
If the EU manages to get new tariff rates in place before the end of the month, 15-percent tariffs on cars from the EU to the USA will be introduced retroactively from August 1 this year.
The fast track planned means that the EU will skip a impact assessment, which is normally done in this type of process.
