"The EU and US have agreed on a baseline levy of 15 percent on most EU goods, relieving businesses from a threatened 30 percent tax."
"The deal significantly helps the EU auto sector, which employs around 13 million people and faced heavy tariffs under Trump."
"While the 15-percent levy is costly for German automakers, experts suggest it is manageable compared to previous rates."
"The EU will commit to purchasing $750 billion of US energy resources over three years and investing an additional $600 billion in the US."
A recent agreement between the EU and US established a baseline levy of 15 percent on a majority of EU goods, reducing the risk of a higher 30 percent tax. This deal primarily benefits the EU auto sector, which employs approximately 13 million people. In addition to tariffs, the EU pledged to buy $750 billion worth of liquefied natural gas, oil, and nuclear fuels from the US while investing $600 billion in the US economy. Trump's administration has set a flat 10 percent rate that adds to existing tariffs, raising overall costs for EU companies.
Read at www.thelocal.com
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