Overview
- The US will impose 15% tariffs on most EU imports and maintain 50% duties on steel and aluminum under the preliminary framework.
- The EU has confirmed commitments to purchase $750 billion in US energy products and invest $600 billion in the American economy through 2028.
- European leaders across the political spectrum criticized the deal as disproportionately favoring US interests and undermining EU trade leverage.
- European markets responded with gains in automaker stocks and four-month highs in EU indices while bond yields declined amid eased trade tensions.
- The framework must be translated into detailed legal text and secure approval from EU member states and the European Parliament before taking effect.