EU Official Confirms US 15% Tariff on Pharmaceuticals, Cars, Cheese; UK Faces 24.9% Tariff as Trade Deal Implementation Advances

An EU official has confirmed that the United States will implement a 15% all-inclusive tariff rate under a new trade framework deal, covering Section 232 items such as pharmaceuticals, cars, and parts. The EU-US trade agreement, which is described as a "very good deal" compared to others, is already being implemented, although the joint statement finalizing the deal is still pending U.S. confirmation. The official highlighted that the EU will face a 15% tariff on cheese, while the UK will be subject to a higher 24.9% tariff on its cheese exports. Efforts are ongoing to finalize the list of essential products exempt from U.S. tariffs and to include as many products as possible in zero-tariff exemptions. The EU official warned that rejecting the trade framework could lead to tariff escalations on both sides and cause divisions within the EU. Despite progress, there is no celebration or sense that all issues have been resolved, with uncertainty remaining about the future of specific sectors such as wine. The EU's trade chief, Maros Sefcovic, is actively engaged with U.S. officials to implement the July agreement, but turbulence in trade relations between the EU and U.S. is still expected.