Transatlantic Trade Talks: Trump's Tariff Tactics in EU Deal
President Donald Trump and European Commission President Ursula von der Leyen announced a trade deal instituting 15% tariffs on European goods. While it alleviates Trump's previous 30% threat, the deal impacts US consumers and European exporters. Notably absent are pharmaceuticals, and US tariffs on steel stay unchanged.
- Country:
- Germany
In a significant transatlantic development, President Donald Trump and European Commission President Ursula von der Leyen announced a crucial trade deal, establishing a 15% tariff on the majority of European imports to the United States.
The deal resulted after intense negotiations, which lessened Trump's initial 30% tariff threat. It impacts a range of products, including cars, chips, and pharmaceuticals, but exempts steel and overlooks pharmaceuticals explicitly.
The agreement aims to stabilize US-EU trade relations, although missing documentation and unresolved issues, like steel tariffs and farm products, inject uncertainty into the future economic outlook.
(With inputs from agencies.)
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