It was recently announced that the White House and the European Commission will publish a joint statement on the trade agreement by August 1. Negotiations are currently ongoing. Therefore, there are no clear conclusions regarding the common "places" and exceptions in the agreement; key details remain unclear. UNN reports with reference to Politico.
Details
The trade agreement between the European Union and the United States, which was recently presented as a compromise solution to avoid raising tariffs, seems to be in the "hanging" stage. Many details still need to be clarified. A few days ago, it became known that the White House and the European Commission intend to prepare a joint statement by August 1, 2025. But it seems that as of now, this has not yet been determined.
All I can tell you is that we have avoided the worst-case scenario, we have reached 15 percent, and we will make it technically work with minimal costs and minimal losses for our exporters, EU Trade Representative Olof Gill said at a press briefing on Tuesday.
At the same time, the official stressed:
I do not know exactly when and on what day the common tariffs will come into force, said the EU Trade Representative.
Olof Gill also does not know when exactly the exceptions to this tariff will be applied.
What is known so far is that both the White House and the European Commission have published separate fact sheets on the trade agreement. The media noted that some points contain contradictory information.
For example
The White House says "the European Union will pay the United States a 15% tariff, including on cars and auto parts, pharmaceuticals and semiconductors"; On the other hand, the EU's executive says the 15% tariffs on pharmaceuticals and semiconductors will only be applied "after the United States decides whether to impose additional tariffs on these products, following separate investigations conducted in the United States."
But that's not all. Differences also remain over customs regimes, the steel and aluminum quota system, and cooperation on health certificates and digital market access.
Recall
The US and EU have signed a major trade agreement, under which the EU will purchase $750 billion in energy and invest $600 billion in the US.
The trade agreement between the European Union and the United States of America will avoid "an unnecessary escalation in transatlantic trade relations" and has shown that EU unity and persistent work "have borne fruit".
European Commission President Ursula von der Leyen has outlined the details of the trade agreement signed between the European Union and the United States of America.
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