European Union assumes it faces 15% tariffs in the US from Friday. But a key text still isn’t ready
BELGIUM, AUG 1 – The EU agreed to 15% tariffs on two-thirds of its exports worth €380 billion to maintain U.S. market access, affecting sectors like wine, autos, and pharmaceuticals, officials said.
- The European Union believes the United States will impose a 15% tariff on most EU exports starting Friday.
- U.S. President Donald Trump and European Commission President Ursula von der Leyen reached a political agreement for these tariffs, affecting around two-thirds of EU goods worth about 380 billion euros.
- European wine and spirits will be included in the 15% tariff, but there may be future negotiations for exemptions, as noted by an unnamed source.
- Brokers indicated that wealthy individuals might seek ways to avoid the impact of the new tax.
79 Articles
79 Articles
Right in the hole. Those who know about golf call that blow birdie that ambushes the ball in the hole with a less than established blow. And that’s what Donald Trump has taken from his visit: a colossal birdie. If NATO Secretary General Mark Rutte called the US President Daddy (Papi), now Ursula von der Leyen, on behalf of the Twenty-Seven, has swallowed a 15% tariff on exports, as well as alleged million dollar purchases of gas and oil. A very …
The 15% tariff rate will reduce the competitiveness of European companies in the US market, with possible consequences of reducing their exports.
Watauga Democrat
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The details of the trade agreement are different… The target investment amount and energy imports are also unknown. There is internal conflict over the 15% reciprocal tariff… The EU negotiating team is under increasing pressure and negotiations may be prolonged. The European Union (EU) has reached a trade agreement with the United States, which focuses on a 15% reciprocal tariff rate.
EU-U.S. Deal Is Bad, but Can Still Get Worse for European Businesses
After having a pop at Commission President Ursula von der Leyen’s negotiation ‘skills’ on Wednesday, Emmanuel Macron suggested the rushed EU-U.S. trade deal could still be improved. It’s more likely, however, that Europe still has further to fall. Macron Bashes von der Leyen’s Weak Negotiating With U.S. Brussels currently appears to believe that pharmaceutical products are—or, at least, could be—excluded from duties. But Washington has other id…
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