European Commission President Announces New Trade Deal Details

European Commission President Ursula von der Leyen has detailed the implications of the newly negotiated trade deal with the United States, highlighting a uniform 15% tariff rate for most EU exports, including cars, semiconductors, and pharmaceuticals.

Key Sectors Affected

"We have agreed on a single 15% tariff rate for the majority of EU exports, covering key sectors such as automobiles, chips, and medicine. This rate is all-inclusive, providing clarity and stability for businesses and citizens alike," von der Leyen explained.

Zero Tariffs on Strategic Goods

Additionally, a "zero-for-zero" tariff arrangement will be applied to strategic goods, including aircraft and parts, certain chemicals, generic pharmaceuticals, and critical raw materials, fostering mutual trade benefits.

Ongoing Negotiations

The President also mentioned ongoing discussions regarding aluminum and steel, aiming to reduce trade barriers and implement a quota system to further ease trade relations.