AsianFin -- The European Union is preparing to propose scrapping tariffs on U.S. industrial goods this week, a key demand from U.S. President Donald Trump in exchange for easing American duties on European car exports, according to people familiar with the matter.

The European Commission, which leads trade negotiations for the bloc, is seeking to fast-track the measure by week’s end, the people said, asking not to be identified as the plans aren’t yet public. In addition to industrial goods, the proposal is expected to extend preferential tariff rates on select U.S. seafood and agricultural products, they said.

The push reflects heightened urgency in Brussels to defuse trade tensions with Washington as Trump presses allies for concessions. European automakers, including Germany’s Volkswagen AG and BMW AG, have been lobbying heavily for relief from U.S. import tariffs, which they see as a looming threat to their business in a key market.