US-EU Trade Deal Ushers in New Era of Tariff Adjustments
The US and EU have reached a trade agreement that modifies tariffs on numerous industries, aiming to stabilize economic relations. Key features include a baseline 15% tariff on EU imports, adjustments on car and semiconductor tariffs, and strategic EU purchases of US energy and technology.
The United States and the European Union have agreed on a significant trade framework aimed at resolving the months-long uncertainty faced by industries and consumers on both sides of the Atlantic.
The trade deal, set to be implemented through an executive order on August 1 by President Donald Trump, will introduce a 15% baseline tariff on almost all EU goods entering the US, while the EU will similarly adjust tariffs on American products.
This agreement includes key changes in sectors such as automotive, pharmaceuticals, and metals, alongside a pledge by the EU for $750 billion in strategic purchases of American energy and technology, underscoring the deepening of transatlantic economic ties.
(With inputs from agencies.)
Advertisement
ALSO READ
India's Booming Automobile Exports Surge 22% Amid Global Demand
India's $15 Billion Petroleum Exports to EU at Risk Amid New Sanctions
Historic U.S.-Japan Trade Deal Rewrites Automotive Tariff Space
NZ-UAE Free Trade Deal Clears Final Hurdle, Unlocks $500B Market for Exports
India-UK FTA Spurs Engineering Exports Boom
Google News