Overview

• The joint statement confirms a 15% baseline U.S. tariff on most EU goods and keeps certain items at existing MFN rates, including cork, aircraft parts and generic pharmaceuticals.
• Lower auto duties to 15% would follow EU steps to remove tariffs on U.S. industrial goods and select farm and seafood products such as pork, dairy and soybean oil.
• Brussels is preparing rapid legislation to eliminate duties on U.S. industrial goods, potentially bypassing a standard impact assessment, to secure U.S. auto tariff relief that reports say could be applied retroactively to August 1.
• A DIHK poll of German firms urges a clearer EU strategy that safeguards regulatory autonomy, calls for mechanisms to prevent future tariff hikes and warns against extra red tape.
• Key elements remain unclear, including U.S. rates on cars and metals, details on wine and spirits, and how large EU purchase and investment pledges—such as $750 billion in energy and $40 billion in AI chips—would be enforced, even as the statement outlines steps on sanitary rules, digital barriers and network fees.