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5d ago

U.S., EU Agree Provisional Trade Framework Capping Tariffs at 15%

The agreement includes a $750 billion EU commitment to U.S. energy purchases over three years to underpin transatlantic market predictability.

FILE - A worker tends to a vineyard in the southern France region of Provence, Friday Oct. 11, 2019. (AP Photo/Daniel Cole, File)
FILE - A handles molten metal at the Thyssenkrupp steel factory in Duisburg, Germany, April 27, 2018. (AP Photo/Martin Meissner, File)
European Commission President Ursula von der Leyen sits with U.S. President Donald Trump, after the announcement of a trade deal between the U.S. and EU, in Turnberry, Scotland, Britain, July 27, 2025. REUTERS/Evelyn Hockstein
FILE - Wheels of Parmesan cheese are stored in a deli in Rome, Thursday, Oct. 3, 2019. (AP Photo/Alessandra Tarantino, File)

Overview

  • The provisional framework imposes a 15% duty on most EU imports to the U.S., averting threatened 30% tariffs.
  • It locks in zero tariffs for strategic sectors including aircraft, chemicals, semiconductors, generic drugs.
  • Decisions on levies for wine and spirits have been postponed pending further market analysis.
  • As part of broader energy realignment, the EU will buy $750 billion in U.S. LNG and nuclear fuel over three years and plans to phase out Russian gas by 2028.
  • U.S. steel imports will continue under 50% tariffs with talks ongoing to negotiate quotas and address non-tariff barriers.