Former Trump’s former Economic Advisor Stephen Moore commented on the US trade deal with the European Union, President Tariff Policy and US Commerce Secretary Lutynik commented on the economy.
chairman Donald Trump On Sunday, announced that the US and the European Union had reached an agreement on a framework for a trade deal.
Trump and European Commission Chairman Ursula von Der Leyen unveiled the deal after a meeting in Scotland, which will bring certainty Tariff policy It was in flow for most of the year of the year.
“We agree that there would be a direct tariff for automobile and everything else will be 15%straight-out-cause tariff,” Trump said. “So we have a tariff of 15%. We have the inauguration of all European countries, which I think I can say that were essentially closed.”
Under the terms of the trade deal, almost all the goods from the European Union will be subject to 15% of the baseline tariffs, which in early April has less than 20% “mutual” tariff in his “Liberation Day” event, but is much higher than 2.5% tariff last year.
Euro, investor Bhavna increases after the US-EU agrees to the framework trade deal after the US-EU
President Donald Trump joined hands with Ursula von Der Leyen, European Commission in Turnberry, Scotland, UK, after the announcement of the US-EU trade deal on 27 July 2025. (Reuters / Evelyn Hawkstein / Reuters Photos)
As Trump referred, tariff on Car and auto parts 15% will face tariffs, which is less than 27.5% imposed on the European Union’s autos earlier this year.
Tariffs on pharmaceutical products and semi -circulators, temporarily, will be subject to 0% tariff, until the US ends Section 232 business checks in the safety implications of those products over the next few weeks. This will be used to apply new global tariff rates on those areas.
European pharmacuticals And the semiconductor will not face more than 15%tariffs, regardless of tariff rates applicable to other countries. Similarly, the tariffs on wood and copper separate section 232 will be determined after examination, but will not exceed 15%.
America’s 50% tariff Steel and aluminum It is expected to live in the near period, although the US and the European Union agreed to replace the tariff with a quota system that both sides would talk.
Europe’s steel exports within Kota will face tariffs at the most preferred nation tariff rate under the rules of the World Trade Organization, which are relatively low and can be zero based on steel grade. In contrast, the Steel exports of the European Union outside the quota will face 50% tariff.
Trump made a historic $ 550B business deal with Japan: ‘Nothing like this happened’
President Donald Trump’s European Union trade deal follows the announcement of a trade deal with Japan last week. (Through Andrew Cablero-Renolds / AFP Getty Image / Getty Image)
The US and the European Union will have zero-for-zero tariffs on various types of goods, including aircraft and their constituent parts; Some chemicals and general medicines; Together Semiconductor manufacturing Tools, natural resources and significant raw materials.
Some agricultural products fall under zero-for-zero tariff regime-but sensitive products such as beef, rice, ethanol, sugar and poultry have been excluded. Other products are expected to be added to the zero-to-zero tariff list between the US and the European Union-although both sides have not set up a tariff rate for alcohol and souls.
Additionally, the deal included a commitment to make $ 750 billion in strategic procurement by the European Union from America, including oil, Liqueur gas (LNG) and during the remaining of Trump’s tenure in the nuclear technology office.
They will include long -term contracts for oil shopping, LNG and nuclear technology, including the estimated amount of Europe’s employed from Europe purchasing from Russia.
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Tariffs are taxes on imported goods that are paid by importers, which often pass some or all high costs to consumers through high prices. (Photo by Kian Weizong / VCG through Getty Image / Getty Image)
The European Union is also expected to make other strategic purchases of semiconductors over a $ 750 billion deal from the US, the US serving as a favorite seller for its chips.
European companies are also expected Invest $ 600 billion In the US during the remaining of Trump’s second term. European Union officials said the figure is based on the joint investment intentions expressed by European companies, although the final action of those private companies is beyond the control of the European Union, an economic and government block.
The investment deal is also different from the terms reached between the US and Japan last week, under which Japan’s investment up to $ 550 billion will cover the equity, loan and guarantee from the state -run agencies at Trump’s discretion.
US-EU trade deal framework will also see a committed to buy European Union member states American military equipmentHowever the amount is not specified by the deal.
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Next to the deal with the European Union, the Trump administration reached a deal with Japan last week and is chasing one Deal with China,
Managing partner for Harris Financial Group, Jamie Cox said, “When Japan broke and a deal, the European Union had very few options,” Jamie Cax said, Partner Managing Partner for Harris Financial Group. “The largest piece in the trade deal puzzle still remains, and the sugar is unlikely to be ready to bend. The next major sustainable theme in the markets is safety, and the European Union deal only accelerates it.”
Bradford Betz and Reuters of Fox News Digital contributed to this report.
