Overview

• Brussels and Washington published details confirming a 15% U.S. duty on EU automobiles and pharmaceuticals and explicitly excluding wines and spirits from any carve‑out.
• EU trade chief Maros Sefcovic said further talks could continue without making promises, as French exporters voiced “immense disappointment” and Paris pledged to push for additional exemptions.
• The tariff regime enters into force once the EU introduces legislation to reduce its own duties, with the European Commission saying the U.S. assured retroactivity to August 1.
• The package includes EU commitments to $750 billion in U.S. energy purchases and $600 billion in additional investment, alongside reciprocal easing on select strategic goods such as aeronautics, some chemicals, semiconductor equipment, certain farm products and critical raw materials.
• The 15% rate is higher than the roughly 4.8% pre‑Trump average but lower than higher levies previously threatened, and for autos it is expected to replace a current 27.5% rate once the deal’s conditions are met.