Overview

• The political framework sets most bilateral import duties at 15% with exemptions for sectors including aeronautics.
• Ratification by the European Council and legal translation into binding instruments are required before the terms can take effect.
• President Macron and French ministers are pressing for additional carve-outs for wines, spirits, mechanical industries and services.
• The pact forms part of President Trump's broader reciprocal tariff strategy, which secured similar 15% deals with South Korea and Japan ahead of the August 1 deadline.
• Economists warn the agreement could cut EU growth by up to 0.4 percentage point and weigh on automotive, chemical and other export-dependent sectors.