BY C STONE | STONE NEWS NETWORK ||| WORLD NEWS
United States President Donald Trump announced a trade deal with the European Union (EU) today. The cost of tariffs was reduced to 15%, and some adjustments were made for some goods.
It appears the cost of doing business with the United States is, at a minimum, at a 15% premium. If you want to do business in the United States, it appears even loyal allies have to pay 15%.
via the White House:
The deal marks a generational modernization of the transatlantic alliance and will provide Americans with unprecedented levels of market access to the European Union.
The deal bolsters America’s economy and manufacturing capabilities. The EU will purchase $750 billion in U.S. energy and make new investments of $600 billion in the United States, all by 2028.
Through decisive leadership and an unyielding commitment to American workers, President Trump has delivered yet another agreement that positions the United States as the world’s preeminent destination for investment, innovation, and advanced manufacturing.
REACHING A HISTORIC TRADE DEAL: President Trump’s agreement with the European Union achieves historic structural reforms and strategic commitments that will benefit American industry, workers, and national security for generations:
The United States and European Union reached a Cooperation Agreement on Reciprocal, Fair and Balanced Trade.
This colossal deal will enable U.S. farmers, ranchers, fishermen, and manufacturers to increase U.S. exports, expand business opportunities, and help reduce the goods trade deficit with the European Union. The EU will remove significant tariffs, including the elimination of all EU tariffs on U.S. industrial goods exported to the EU, creating enormous opportunities for American-made and American-grown goods to compete and win in Europe. This new market access will drive growth across the American economy—fueling exports, expanding production, and allowing American businesses of all sizes to reach millions of new customers across the Atlantic.
As part of President Trump’s strategy to establish balanced trade, the European Union will pay the United States a tariff rate of 15%, including on autos and auto parts, pharmaceuticals, and semiconductors. However, the sectoral tariffs on steel, aluminum, and copper will remain unchanged—the EU will continue to pay 50% and the parties will discuss securing supply chains for these products. This new tariff regime will generate tens of billions of dollars in revenue annually and help to close the longstanding trade imbalance between the United States and Europe by encouraging local sourcing, reshoring production, and ensuring that foreign producers contribute their fair share to the American economy.
Comments
Post a Comment