Overview

• The United States and European Union agreed to cap US tariffs on EU exports at 15 percent, down from a threatened 30 percent rate.
• The EU committed to purchase $750 billion in US energy supplies over the coming years to reduce reliance on Russian gas.
• Brussels also pledged $600 billion in additional investments in the US economy under the preliminary framework.
• Senior European Parliament lawmaker Bernd Lange described the draft agreement as imbalanced and unsatisfactory for EU interests.
• The preliminary accord requires formal approval by EU member states before it can take effect.