Today the US and EU struck a trade deal/framework which would apply a 15% reciprocal tariff rate on all EU imports into the US. The deal was announced after a brief meeting between President Trump European Commission President Ursula von der Leyen. No official announcement or details have been published by the White House.
The deal would place 15% reciprocal tariffs on EU imports, which is less than the 30% rate threaten by President Trump earlier in July. President Trump also noted that the deal calls for $600 B in investments in the US by the EU and the EU will purchase $750 B in energy from the US.
Please note that there are few details available. As such, there several outstanding questions including timeline/details of investment commitments by the EU and if US exporters will receive any market access benefits, as has been part of other trade deals announced by the Trump Administration.
