By Krieger Worldwide
The White House recently announced a new trade agreement with the European Union. Based on preliminary information:
- The EU would eliminate duties on certain U.S. exports, creating new opportunities for U.S. exporters.
- Imports of EU-origin goods into the U.S. would be subject to a 15% baseline tariff. Currently, a 10% baseline reciprocal tariff is in place, although 30% was threatened in early July before the trade agreement was announced.
- The administration has indicated that the agreement includes purchase commitments and other concessions from the EU, though full details have yet to be released.
This EU development follows ongoing negotiations with other key trade partners, including the U.K., Vietnam, Indonesia, the Philippines and Japan. While none of these deals are finalized, they signal a broader shift in the U.S. administration’s trade posture.
