EU, US release long-awaited trade statement setting 15% all-inclusive tariff on EU goods
The joint statement, which comes nearly a month after the trade deal was struck, is being described as a "first step" by the EU side, which hopes to secure more tariff exemptions.
READ MORE : http://www.euronews.com/2025/08/21/eu-us-release-long-awaited-trade-statement-setting-15-all-inclusive-tariff-on-eu-goods
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00:00The European Union and the United States are moving from trade intentions to implementation.
00:08On Thursday, the two partners published a joint statement setting out new customs duties.
00:14The text provides for a maximum duty of 15% on a large proportion of EU exports to the US.
00:21Once again, the European Commission is defending this compromise, which has been the subject of much criticism.
00:27Let me say this clearly. The alternative, a trade war with sky-high tariffs and political escalation helps no one.
00:40It hurts jobs, it hurts growth and it damages businesses across both the EU and the US.
00:48And this is not theoretical as nearly 5 million European jobs, including many in SMEs, would be at risk.
00:56This deal avoids that path.
00:59The 15% ceiling ultimately includes cars, pharmaceuticals and semiconductors.
01:06But uncertainties remain for other goods.
01:09A joint statement remains vague on steel and aluminium, two products that are soaring transatlantic relations.
01:17We still don't have a clear solution on the steel and aluminium tariffs, where here it says there is supposed to be a tariff rate quota, meaning that there will be some amount of steel from Europe that will not have their 50% tariffs on them.
01:30But we don't know how much that will be and what will be the actual tariff rate on that.
01:33As implementation kicks in, exemptions from the 15% cap are granted for aircraft and spare parts, generic medicines and chemical precursors.
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