“The finish line has exceeded,” said EU trade commissioner Maros Sefcovic at a press conference on Thursday. A statement on trade agreements was published together with the USA. The provisions would bring stability for European companies, said Sefcovic.
As reported, a general customs set of 15 percent will apply to EU imports to the United States in the future. This affects the automotive industry, pharmaceutical industry and semiconductor. This should apply retrospectively from August 1st as soon as the EU begins to reduce tariffs to US imports.
- Read here: Requested and US tariffs burden domestic car suppliers
There will be no additional tariffs for sectors that are already occupied with a duty of 15 percent or more – for example aluminum and steel. Quotas are negotiated for this area, the previous customs set should decrease. In addition, from September 1st, the customs sets for EU exports from the aviation industry will be reset to the level of January, before the increases.
EU wants to import energy from the USA
In return, the EU undertakes to import energy (LNG gas or oil) worth $ 750 billion from the USA by 2028. Chips for artificial intelligence – worth $ 40 billion – are also to be bought by the USA. In addition, the EU wants to grant the United States better market access for its agricultural products in the future.
“}”>
Image: John Thys (AFP)
Source: Nachrichten
