Under the agreement, the EU will purchase USD 750 billion worth of energy from the US by 2028 and make USD 600 billion in new investments in the US. These investments will be made in addition to the more than USD 100 billion in direct foreign investments already made each year by EU companies. The aim is to strengthen the US economy and production capacity.
The agreement, which covers agriculture, industry, and digital trade, will offer new export opportunities to US farmers, fishermen, producers, and industrialists. At the same time, it will be an important step toward reducing the trade deficit between the EU and the US.
Under the agreement, the EU will remove customs duties on all industrial products imported from the US. However, the EU will continue to pay a 15% customs duty on certain product groups such as automobiles, automobile parts, pharmaceuticals, and semiconductors.
However, no changes have been made to the current tariffs on sector-based products such as steel, aluminum, and copper. The EU will continue to pay a 50% customs duty on these products. The parties will continue negotiations to ensure the security of supply chains for these products.
The negative impact of bureaucratic regulations in the EU on American exporters, which the US has been voicing for a long time, was also brought to the agenda. The EU has promised to work to remove regulatory barriers faced by small and medium-sized American businesses in particular.
Significant steps have also been taken with regard to trade in food and agricultural products. The parties will work together to reduce non-tariff barriers, including simplifying health certification requirements for US pork and dairy products.
In the field of digital trade, the EU reiterated its commitment not to apply network usage fees. In addition, the parties confirmed that they will continue to apply zero customs duties on electronic data transmission.
The announcement of the agreement came immediately after US President Donald Trump's meeting with EU Commission President Ursula von der Leyen in Scotland. In a statement following the meeting, President Trump announced that trade agreement negotiations had been completed and that a 15% tariff would be applied to EU products.
The new trade agreement is expected to bring a new dimension to US-EU relations, not only economically but also strategically.
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