this post was submitted on 27 Jul 2025
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US and EU reach trade deal to avoid tariffs (www.dw.com)
submitted 5 days ago by nuko147@lemmy.world to c/buyeuropean@feddit.uk
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What's in the EU-US trade deal?

"We are agreeing that the tariff straight across, for automobiles and everything else, will be a straight across tariff of 15%," according to Trump.

Currently, most EU goods face a 10% tariff, with levies of 50% on steel and aluminum. Cars and car parts are now taxed at 25%.

Trump also said the bloc had agreed to purchase "$750 billion (โ‚ฌ638 billion) worth of energy" from his country, as well as $600 billion more in additional investments.

The president told reporters at the start of the meeting that fairness was the main remaining sticking point.

"Europe is very closed. We don't sell cars into Europe. We don't sell essentially agriculture of any great degree," he said, adding that pharmaceuticals "won't be part of" any agreement.

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[โ€“] ExtremeDullard@lemmy.sdf.org 30 points 5 days ago* (last edited 5 days ago) (12 children)

For the nth time, tariffs are import taxes levied on the LOCALS importing from a country being tariffed (well, import tariffs anyway). All Trump did here is ensure European companies that traditionally sell a lot in the US diversify and find non-American customers to break their dependency on US customers that don't buy as much anymore. That's good for Europe in the long term.

As for energy, Europe needs it to avoid buying Russian oil and gas anyway. So it's a great way for Europe to avoid dealing with sketchy petro states to get energy.

[โ€“] bhavyful@feddit.uk 4 points 5 days ago

Hopefully buy a bit more Canadian to support them.

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