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After months of uncertainty and escalating rhetoric, a new EU-US trade deal has finally been announced. Under the deal, a 15% US tariff will apply to most EU imports, including cars, pharmaceuticals and semiconductors. This is higher than the 10% rate applied to most imports from the EU since April, but lower than the 30% tariff President Trump had threatened just days earlier. A 50% tariff remains on steel and aluminium, with further negotiations expected in those sectors.
In return, the EU has committed to eliminating existing sectoral tariffs, notably the 10% duty on car imports. The deal also includes an EU pledge to purchase more US gas (USD 750 billion by 2028), along with an unspecified amount of military equipment, and to raise its overall investment in the US by USD 600 billion.
The deal has been widely criticised on the European side, viewed by some as a weak EU capitulating to Trump’s demands, unable to mount an effective response. While that perception is difficult to counter, the reality is much more complex and nuanced.
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