Brussels/Rome (ANSA) – An agreement has been reached in Southwestern Scotland regarding EU and US tariffs. US President Donald Trump and European Commission President Ursula von der Leyen have settled on a 15% tariff on European imports.
The core of this agreement features a 15% customs rate that includes a ‘most favored nation’ (MFN) clause, ensuring equality and non-discrimination within the World Trade Organization framework. This sets an average reciprocal tariff of 4.8% for transatlantic trade as it was prior to Trump’s administration.
No changes have been made for industrial metals, with US tariffs remaining at 50%. This firm approach echoes the 2018 initiatives when tariffs of 25% and 10% were imposed by Trump, leading to European countermeasures costing 2.8 billion euros on iconic products like bourbon, Levi’s, and Harley-Davidson.
The automotive sector, influenced by major German brands, will see a reduction in tariffs to 27.5%, with a potential harmonization to 15%. While still significant, this decrease revitalizes a key area for European exports.
The flat rate also applies to the agricultural supply chain, incorporating existing tariffs. However, wine could face increased tariffs from the current 2.5%, pending confirmation of a potential exemption. The healthcare sector, including pharmaceuticals and essential devices, along with semiconductors, will maintain a 15% tariff.
Zero tariffs are anticipated for sensitive high-tech areas, such as civil aircraft, advanced robotics, and industrial machinery. Notably, the aerospace sector, which has seen disputes between Airbus and Boeing, benefits from a tacit agreement of non-aggression.
Additionally, there is a commitment from Europe to bolster US arms purchases, along with plans for $600 billion in overseas investments and $750 billion in US energy supplies, particularly LNG, over the next three years (as of July 27).
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