Azerbaijan is preparing to exempt the import of vintage vehicles from VAT, excise tax and customs duties under proposed legislative amendments currently under parliamentary review.

India plans to sharply reduce tariffs on cars imported from the European Union, cutting duties to 40% from levels as high as 110%, sources said, marking the country’s most significant opening yet of its protected auto market as the two sides move closer to a free trade agreement that could be announced as early as Tuesday.

Between January and April this year, Georgia exported 2,853 vehicles to Azerbaijan, totaling $80 million, according to the National Statistics Office of Georgia.

US President Donald Trump has announced new import taxes of 25% on cars and car parts coming into the US in a move that threatens to widen the global trade war.