In summer, the EU had agreed with the United States on a trade agreement. Now all prerequisites for implementation are met. The US tariffs on auto imports are expected to fall retrospectively from August 1st to 15 percent.
The trade agreement between the United States and the European Union is understood. The US Ministry of Trade and the US trade officer had determined that the EU had submitted the necessary draft laws for implementing the agreement, according to a document by the two government agencies.
Now the agreed reduction in tariffs for EU car exports to the United States is to be implemented to 15 percent, retrospectively on August 1st. The publication also lists hundreds of products from the EU that are fully excluded from the tariffs. This includes all aircraft and aircraft parts as well as generics, their ingredients and chemical pre -products. Certain natural raw materials such as cork that are not available in the USA are also freed.
Shares of German car manufacturers add
The EU had agreed with the United States on a trade agreement in summer. It stated that the auto tariffs, which were 27.5 percent, are reduced to 15 percent. However, it remained unclear when the lower duty rate would come into force. The United States had linked the step to submit the EU the necessary laws to implement the promised tariffs for US goods.
The fact that the lower car tariffs are now getting into force retrospectively is a relief for the car manufacturers who have long been waiting for the confirmation. Shortly before the conclusion of the trade, the shares of the German manufacturers attracted: BMW titles increased 1.4 percent, Mercedes-Benz 1.1 percent. The shares of the car manufacturer Porsche, which depends particularly on exports, who does not operate its own production in the USA, won 2.2 percent.
EU says Billion -dollar investments to
According to the agreement, the EU undertakes to abolish its tariffs to all US industrial goods and to grant a preferred market access for a wide range of US sea fruits and agricultural products such as dairy products, pork or soybean oil. The EU also agreed to buy liquefied gas, oil and nuclear energy products for $ 750 billion in the USA by 2028, and chips for artificial intelligence worth $ 40 billion in the USA. By 2028, EU companies should also invest an additional $ 600 billion in strategically important sectors in the United States.
US President Donald Trump had repeatedly accused the EU to take advantage of the United States and referred to the EU trade surplus in the event of goods. Brussels argued that Washington did not take into account the strong position of the USA for services, especially internet -based services.
