The United States and the European Union announced on Thursday that they have reached a framework for agreement for Mutual, fair and balanced trade. Basic terms include the abolition of duties of the EU in all US industrial products to avoid Donald Trump’s punitive duties, the White House said.

Read the US-EU joint statement in detail (English)

The joint statement “It details the new US duty regime against the EU, with a clear maximum, integrated tariff rate 15% For the overwhelming majority of EU exports, including strategic sectors such as cars, medicines, semiconductors and timber. “

The EU will provide ‘Preferential treatment’ The White House announced in seafood and agricultural products. The US intends to ensure that the duty applied to EU products (pharmaceuticals, semiconductors, timber), does not exceed 15%.

The text of the joint statement also confirms EU commitment to “supply liquefied natural gas (LNG), oil and US nuclear energy products” 750 billion dollars By 2028, while another $ 40 billion is expected to be spent on US artificial intelligence semiconductors on data centers.

Cars

It is clear that ‘As far as cars and car spare parts are concerned, US duties ceiling of 15% will be applied in parallel With the start of EU duties reduction processes in relation to US products. ”

Important for EU automakers is that the new 15% duty will also be applied retroactively from August 1st.

“I think these are welcome news about our automotive industry, which has lost a lot of money in recent months.” noted EU Vice President and Energy Commissioner, Maros Shefkovic.

A senior US official told Reuters that the EU automobile diligence is expected to come “We hope in weeks.”

Blow for European winemakers

However, There was no agreement With the US for tariffs on beers, wine and alcoholic beverages, Shevkovic said. At the same time, the digital sector was left out of current trade talks with the US.

The non -inclusion of alcoholic In the agreement, despite the pressure of Europe’s largest winemakers in France, Italy, Germany, Spain and Portugal, it is a heavy blow.

The Slovak official said on the issue of wine and the rest of the alcohols that “The doors are not closed forever with the US to reduce duties”. I don’t want to say it’s easy, it’s clear.

‘Alternative The Commercial War’

Maros Sevkovic has spoken of a powerful first step that offers stability, predictability – and opportunities. Relief comes in many areas, including the automotive industry, he stresses.

“The alternative, a trade war with expensive tariffs and political escalation, does not help anyone. Hurts jobs. It hurts growth and businesses in both the EU and the US. And this is not theoretical, as nearly 5 million jobs in Europe, including many in small and medium -sized enterprises, would be in danger. “ The European official warned.