The United States and the European Union on Thursday published a joint statement that formalizes the framework trade agreement the two sides struck in July, providing the first detailed roadmap for the pact. Under the 3½-page document, Washington will apply a unified 15 percent tariff to most EU goods—including automobiles, pharmaceuticals, semiconductors and lumber—while Brussels commits to abolish duties on all U.S. industrial products and to extend preferential market access to American seafood and agricultural exports. The current 27.5 percent U.S. levy on European cars and parts remains in force but would drop to 15 percent as soon as the EU introduces the legislation required to implement its own tariff cuts. A senior U.S. official said the relief could come "within weeks" and would apply retroactively to shipments dated from Aug. 1. The EU also agreed to buy about $750 billion worth of U.S. energy products and at least $40 billion in American artificial-intelligence chips, and said European firms plan to invest $600 billion in U.S. strategic sectors by 2028. Both sides pledged further talks on rules of origin, digital-trade barriers and potential quota arrangements for steel and aluminum as the agreement evolves.
🚨 US-EU Trade Deal Main Takeaways • 15% tariff stays on most EU goods (win for pharmaceuticals) • Wine & spirits at 15% 🍷 - could not get this reduced • Autos remain at 27.5% 🚗 but would be cut to 15% only after EU lowers tariffs on US farm & industrial goods
新貿易協定の共同声明発表 関税や市場開放―米EU https://t.co/2sQFeDc5aJ
#BREAKING: White House announces EU trade deal https://t.co/SRa4vGQLcA