Germany’s VDA says U.S.-EU trade progress is a ‘big step forward’

BERLIN (Reuters) – Germany’s VDA automotive association welcomed on Thursday an agreement between the EU and the United States to take steps to ease the threat of a transatlantic trade war, saying it offered a real opportunity to avert further tariffs.

“This signal of de-escalation is important and after developments in the last few weeks, a bit step forward … Now the agreement must be filled with life and negotiations must start quickly,” the VDA said in a statement.