U.S., E.U. Outline Tariff Deal, Including Medicine, Autos and More
The agreement caps tariffs at 15% on key US imports and expects $600 billion in European investments by 2028, aiming to align standards and strengthen supply chains.
- On Thursday, the European Union and the United States issued a joint statement formalising their trade deal announced in Scotland by US President Donald Trump and European Commission President Ursula von der Leyen, with tariffs capped at 15%.
- EU and US negotiators designed the deal to align standards, reduce non-tariff barriers, and strengthen supply chains, covering automobiles, telecommunications and cybersecurity plus commitments on digital trade, intellectual property, labour rights and environmental regulation, with tariff reductions applying as the EU initiates reciprocal tariff procedures.
- Special tariff provisions cover aircraft and aircraft parts, generic medicines and their ingredients, and chemical precursors, with normal MFN tariffs from 1 September and 15% retroactive tariffs from 1 August in some cases.
- European companies are expected to invest an additional 600 billion dollars in US strategic sectors by 2028, and Maros Sefcovic said, 'This is not the end, but the beginning', highlighting cooperation on energy and at least 40 billion dollars in AI chips.
- Despite progress, no deal was reached on steel and aluminium, keeping the 50% tariff rate; EU ambassadors and Commission negotiators have no timeline for tariff rate quota solution talks.
135 Articles
135 Articles
Daily Journal
U.S.-EU trade deal includes ceiling for European pharmaceutical imports
(The Center Square) – The European Union has escaped a potential 250% pharmaceutical tariff and instead has secured a maximum 15% levy with the U.S. according to a joint statement released by both parties Thursday.
While Brazil suffers a 50% tariff, Europeans receive a 15% tariff and Argentina a 10% tariff
Does Trump’s handshake deal with the EU put America first?
What’s really at stake in these trade deals? That is what we are slowly discovering as Donald Trump’s handshakes with America’s trading partners are turned into specific and detailed agreements. Today we are getting the details of one of the biggest deals struck so far: a trade agreement with the famously protectionist European Union, which agreed in principle to a deal back in July, with the caveat on both the US and EU side that taxes on key s…
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