Overview

• U.S. and EU negotiators have drafted a framework capping duties at 15 percent on each other’s imports.
• The proposed accord includes carve-outs exempting aircraft, spirits and medical devices from the new levies.
• Brussels is preparing up to €93 billion in 30 percent retaliatory tariffs on U.S. goods in case of no sign-off.
• German Chancellor Friedrich Merz and President Emmanuel Macron have voiced cautious optimism about finalizing the agreement.
• The pact hinges on President Trump’s approval before the August 1 deadline to avert higher U.S. duties.