Germany wants to make a deal.
Richard Grenell, the U.S. ambassador to Germany, will return to Washingtonwith a proposal from German automakers seeking to end the burgeoning trade war that could cost them profitability in the U.S. market, according to The Wall Street Journal.
The proposal is for a mutual abandonment of all tariffs on cars between the European Union and the U.S., according to the Journal's sources.
For the EU, that would mean getting rid of a 10% tax on U.S. autos and the 2.5% duty on auto imports in the U.S. In exchange, the German automakers are looking for President Donald Trump to drop his threat of imposing a 25% border tax on European auto imports.