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U.S., EU Reach Deal to Cap Transatlantic Tariffs at 15%

It takes effect on August 1 without any extensions.

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Overview

  • The agreement replaces a patchwork of provisional duties with a uniform tariff structure, bringing certainty to transatlantic trade.
  • Existing 50% duties on steel and aluminum remain unchanged to address global overcapacity concerns.
  • Pharmaceutical products are excluded from the framework and will face separate negotiations.
  • The EU has pledged $600 billion in new investments across the United States to rebalance trade flows.
  • Brussels will purchase $750 billion in U.S. energy and military equipment as part of reciprocal commitments.