Overview

• Under the EU–US framework, a 15% tariff on most European goods takes effect next month while spirits return to duty-free status and wine tariffs are still under negotiation.
• Critical industries such as automobiles and pharmaceuticals secured exemptions to shield them from the higher levy under the EU deal.
• The South Korea agreement fixes a 15% reciprocal tariff on all Korean exports, applies the same rate to autos and chips and keeps rice and beef markets closed.
• Seoul will channel $350 billion into US-selected projects spanning shipbuilding, semiconductors, batteries and biotechnology and purchase $100 billion of US liquefied natural gas.
• The twin deals reflect President Trump’s strategy of using looming tariff threats and self-imposed deadlines to extract large investment and energy purchase commitments.