The United States and the European Union published a 3½-page joint statement spelling out the framework trade accord they first announced in July. The text caps most U.S. import duties on European goods at 15 percent, ending months of uncertainty over a threatened escalation of tariffs. Under the deal, Brussels will eliminate tariffs on all U.S. industrial goods and give preferential market access to American seafood and farm products. Washington, in turn, will cut the existing 27.5 percent tariff on cars and parts once the European Commission introduces the legislation needed to implement its own tariff reductions; the lower rate will be applied retroactively from Aug. 1. Aircraft, aircraft parts, generic pharmaceuticals and certain raw materials will face only pre-existing most-favoured-nation rates below 15 percent. Key sectors were left outside the carve-outs. Wine and spirits, a €5 billion European export to the United States, will still be hit with the full 15 percent duty, drawing protests from producers in France, Italy and Spain. The 50 percent national-security tariff on EU steel, aluminum and downstream products also remains in force, though the two sides agreed to explore quota-based relief. The non-binding framework includes an EU intention to buy $750 billion in U.S. liquefied natural gas, oil and nuclear fuel and to channel a further $600 billion of private-sector investment into U.S. strategic industries by 2028. Officials on both sides described the document as a first step toward a more comprehensive pact, but businesses warned that the absence of enforcement provisions means the accord could still change with little notice.
🌐 Internacionales | Los vendedores de vino en Estados Unidos, en el limbo pese al acuerdo tarifario con la UE 🇺🇸🍷 https://t.co/Et5FEuW1rA
La patronal de los espirituosos muestra su "profunda decepción" por el acuerdo entre UE-EEUU de aranceles https://t.co/9b7RWqFuBz
There’s still much more to come from the White House on tariffs, but the European Union has now reached a trade agreement with the U.S. #tariffs #whitehouse #trade #biospace https://t.co/K7IC81YG3t