In a joint statement, the two parties outlined that 15 per cent US tariffs will apply to most EU imports, highlighting key commitments, including the EU's pledge to remove tariffs on US industrial goods and provide preferential market access for various US seafood and agricultural products.
Washington to reduce tariffs
Washington is set to reduce the current 27.5 per cent US tariffs on cars and auto parts, which have long been a heavy burden for European carmakers. However, this reduction will only take effect once Brussels introduces the necessary legislation to implement the promised tariff cuts on US goods. According to the statement, the US tariff relief on autos and auto parts will be activated on the first day of the month in which the EU enacts the legislation.
