EU and US reach economic deal: single 15% tariff, removal of duties on key goods, and strategic partnership

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Amid the threat of a new trade escalation following the U.S. announcement of plans to impose tariffs of up to 30% on a broad range of European products starting August 1, 2025, a key meeting took place this weekend between European Commission President Ursula von der Leyen and U.S. President Donald Trump. The result was a breakthrough economic agreement aimed at stabilizing transatlantic trade relations.

According to the agreement, both sides have endorsed the introduction of a unified 15% tariff on the majority of EU exports to the United States. This applies to strategically important sectors such as automotive, semiconductor manufacturing, and pharmaceuticals. The new tariff will serve as the maximum allowed rate and will be implemented without additional restrictions or conditions, providing greater predictability for businesses and consumers on both sides of the Atlantic.

Additionally, the EU and the US agreed on a mutual elimination of tariffs (the so-called “zero-for-zero” scheme) on a list of key goods. The initial list includes aircraft and aviation components, selected chemical substances, generic pharmaceuticals, semiconductor manufacturing equipment, natural resources, and certain agricultural products. The agreement also outlines plans for ongoing discussions to further expand this list.

“This new economic framework lays the foundation for a stronger strategic partnership between the world’s two largest economies, which together account for 44% of global GDP and a market of 800 million people,” stated Ursula von der Leyen.

The agreement also includes provisions for closer cooperation in the energy sector and high-tech industries, reflecting both sides’ commitment to enhancing economic resilience and reducing dependence on unstable external markets.

The new transatlantic framework is expected to bring stability, boost investment attractiveness, and significantly reduce the risk of future trade conflicts.


PigUA.info based on materials from pig333.com

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