EU-US Tariff Deal: Uncertainty, Exemptions, and Renegotiations

The trade agreement between the European Union and the United States is under scrutiny, mainly due to the 15% tariff rate imposed on most exports from the 27 member states. This rate is higher than the average tariff of 2.5% that was in place before Donald Trump's decision.

Compared to the previous regime, where the 20% rate was suspended and an additional 10% tariff was imposed, the difference is small, as the 15% rate will incorporate existing tariffs.

The 15% rate is expected to reduce the competitiveness of European businesses in the American market. The appreciation of the euro is also a factor eroding competitiveness.

There are ambiguities regarding the opening of the European market to American products and imports of agricultural products from the US. The EU will eliminate tariffs on US industrial products, while there will be better access for limited quantities of American fish products and certain agricultural exports.

There is also ambiguity regarding non-tariff barriers, such as the specifications for products from third countries. The US and the EU intend to cooperate to address these barriers.

The chapter on exemptions from the 15% rate is particularly important. From August 1, US tariffs on aircraft, parts, chemicals, generic drugs and national resources will return to pre-January levels.

Negotiations are continuing to provide a clearer picture of the agreement.