Another case of Trump caving in the tariff war.
https://www.theguardian.com/us-news/2025/jul/28/eu-us-trade-deal-tariffs-european-union-five-key-takeaways
1. The deal in a nutshell
The centrepiece is a 15% baseline tariff on EU exports to the US, with the exception of steel which is still being taxed at 50%. Car imports, which are being taxed at 27.5% can be sold – from Friday – at a 15% rate.
The EU has also committed to buying $750bn (£560bn) in energy from the US over three years and has sweetened the look of the deal by aggregating all the known investment commitments and claiming they are going to invest $600bn (£450bn) into the US. This allowed Trump to declare the deal bigger than Japan’s which promised $550bn of investments.
In all, the tariffs will apply to 70% of EU exports worth €380bn a year.
In the other direction, US exports to the EU including cars, currently at 10%, will be duty free.
2. And the winner is?
Donald Trump. Many financial institutions have remarked on what they believe is an “asymmetrical deal” that imposes tariffs of 15% on most EU exports including cars; involves the EU buying $750bn worth of energy and ends a decades old World Trade Organization agreement that pharmaceuticals are traded at zero percent tariff.
mspart