The European Union formally proposed Thursday to remove tariffs on American industrial goods, fulfilling a key element of the U.S.-EU framework trade agreement and ensuring that lower automobile tariffs will be retroactive to the beginning of August.

The European Commission, the executive arm of the EU, said in a statement that the removal of duties on industrial goods, along with providing "preferential market access" for some U.S. seafood and agricultural goods, would "ensure tariff relief by the US for the vital EU automotive sector starting retroactively from 1 st of August."

"These steps contribute to restoring stability and predictability in EU-US trade and investment relations, to the benefit of business, workers and citizens on both sides of the Atlantic," it added.

The

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