Brussels, Aug. 21 (LaPresse) – The European Union and the United States have agreed on a joint declaration on tariffs, following the political deal reached in Scotland at the end of July between US President Donald Trump and European Commission President Ursula von der Leyen. The joint declaration “establishes a framework for fair, balanced, and mutually beneficial transatlantic trade and investment” and “confirms and strengthens the political agreement reached by President von der Leyen and President Trump on July 27,” the statement said. The declaration also “details the new US tariff regime towards the EU, with a comprehensive maximum tariff rate of 15% for the vast majority of EU exports, including strategic sectors such as automobiles, pharmaceuticals, semiconductors, and timber.” It further specifies that “sectors already subject to Most-Favored-Nation (MFN) tariffs equal to or above 15% will not be subject to additional tariffs.”
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