White House Provides Additional U.S.-EU Trade Deal Details
Following the Trump administration’s announcement on Sunday, July 27, regarding a trade deal reached with the European Union (EU), the White House published this fact sheet which includes additional details.
The EU will pay the U.S. a tariff rate of 15%, including on autos and auto parts, pharmaceuticals, and semiconductors, while the EU has zeroed out most tariffs on U.S. goods. The sectoral tariffs on steel, aluminum, and copper will remain unchanged, meaning the EU for now will continue to pay 50%.
Other trade highlights in the fact sheet include:
- Tariff Barriers: The European Union will work with the United States to eliminate tariffs in various sectors and will provide meaningful quotas for other products, which when combined will create commercially meaningful market access opportunities for a significant amount of U.S. goods exports to the European Union, supporting high-quality American jobs.
- Non-Tariff Barriers for U.S. Industrial Exports: The European Union will work to address a range of U.S. concerns related to various EU requirements that are burdensome to U.S. exporters, particularly small and medium-sized businesses, including through efforts to eliminate the red tape that U.S. exporters face when doing business in the European Union.
- Non-Tariff Barriers for U.S. Agriculture Exports: The United States and the European Union intend to work together to address non-tariff barriers affecting trade in food and agricultural products, including streamlining requirements for sanitary certificates for U.S. pork and dairy products.
- No Free Riders: The United States and the European Union will establish strong rules of origin to ensure that the benefits of this agreement flow directly to the United States and the European Union, not to third countries.