U.S. And EU Agree on New 15% Tariff and Avoid Trade War

The United States and the European Union have reached an agreement that sets a general tariff of 15% on most European exports, thus avoiding a trade escalation that would have begun on August 1 with tariffs of 30%. The measure affects key sectors such as automotive, pharmaceutical, and semiconductors.

The agreement, announced by Ursula von der Leyen from Scotland, also establishes a zero tariff for strategic products such as aircraft, semiconductors, certain chemical and agricultural products, including nuts, cheeses, and pet food. A non-binding joint document with the details of the agreement will be published soon.

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Regarding European steel and aluminum, the terms of a new quota system that will replace the current 50% tariff are still being negotiated. Imports within the quota are expected to be taxed at preferential rates, and the surplus will maintain the current tax.

In addition, the EU commits to facilitating private investments of $600 billion in the U.S. and to purchasing $750 billion of American energy until 2029, although the purchase will depend on private companies. In technology, Von der Leyen highlighted the importance of U.S. artificial intelligence chips for European industrial development.

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