Von der Leyenstated, “Today's agreement provides stability and predictability in a period of uncertainty. This is a major win for citizens and businesses.”
Common Market, Common Decision
Noting that the US and the EU together have a trade volume of USD 1.7 trillion per year, von der Leyen stated, “We are a market of 800 million people and account for nearly 44% of global GDP. This agreement is the second building block of the transatlantic partnership, just a few weeks after the NATO Summit.”
A Flat 15% Tariff for Most Products
One of the most notable aspects of the agreement is that a single flat customs tariff will apply to the vast majority of exports from the EU to the US. Von der Leyencommented on thisstating, “We have agreed on a single 15% tariff for the majority of EU exports. This rate covers sectors such as automobiles, semiconductors, and pharmaceuticals. This rate is a final ceiling tariff. There are no tiers, no exceptions. We are providing clarity for the business community.”
Mutual Tariff Elimination for Some Products
The EU and the US have also agreed on a “zero-for-zero” tariff for certain product groups of strategic importance. These products include aircraft and spare parts, certain chemicals, generic medicines, semiconductor equipment, certain agricultural products, natural resources, and critical raw materials. Work will continue to add new items to the list of products subject to tariff elimination.
Quota System for Steel and Aluminum
Von der Leyen sent a message of joint action against the problem of excess capacity in global steel and aluminum production, announcing that tariffs in these areas would be reduced and a quota system implemented. The aim is to establish both fair competition and a cooperative trading environment.
Cooperation in Energy and Artificial Intelligence
Von der Leyen stated that cooperation with the US in the energy sector will be deepened noting, “Thanks to LNG, oil, and nuclear fuel purchases from the US, we will diversify our energy supply and reduce our dependence on Russian energy.” It was also stated that artificial intelligence chips to be supplied from the US will strengthen artificial intelligence production centers in Europe.
“We Are Providing Predictability for Companies”
Von der Leyen stated that the new agreement will make it easier for companies to plan and that tariff reductions will be applied immediately, adding that this will have a direct impact on companies' profitability. She emphasized that access to the US, the largest export market for European products, has been secured, and that US products will also have easier access to the European market.
Von der Leyen noted that this agreement offers a framework for cooperation that addresses not only tariffs but also non-tariff barriers: “We will also work together in the area of economic security. When the EU and the US act together, concrete benefits emerge.”
Thank You, Trump
At the end of her speech, von der Leyen also thanked US President Donald Trump, stating, “He is a tough negotiator but also a master of compromise. I thank him for his leadership in this agreement.” Von der Leyen also thanked EU Commissioner Maroš Šefčovič and the negotiating team, saying, “Our unity is our greatest strength, both internally and externally.”
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