A tentative U.S.-EU trade arrangement imposes a 15% U.S. import tariff on roughly 70% of European exports while leaving key categories unresolved. Wine, spirits and steel exemptions remain under negotiation, with EU officials seeking future exclusions and tariff rate quota proposals for steel pending further talks. The agreement exists as a 3.5-page political commitment without legal force, diverging from typical binding, lengthy trade treaties. Key measures include a zero tariff rate for U.S. cars exported to the EU and carve-outs exempting aircraft, aircraft parts, and certain generic pharmaceuticals and pharmaceutical ingredients.
U.S. President Donald Trump's administration and European Union officials on Thursday released a bare-bones account of their trade deal that imposes a stiff 15% import tax on 70% of European goods exported to the U.S., but they left blank key areas including wine and spirits and steel and indicated that talks would continue on those and a slew of other important goods.
The 3 1/2-page text, which represents a political commitment and isn't legally binding, contrasts with the typical format for trade agreements, which can be hundreds of pages long and carry legal force. The key provisions are the 15% tariff on most EU goods, a zero rate on U.S. cars and other industrial goods exported to the EU, and a range of exceptions to the 15% rate for aircraft and aircraft parts.
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