Tariff Talk

The White House fact sheet on the EU Trade Deal is out, with tariffs notably absent from the first page. It opens by highlighting the EU’s commitment to purchase $750 billion in U.S. energy and invest $600 billion in the U.S. by 2028, along with efforts to eliminate various non-tariff trade barriers. While the agreement includes commitments to immediate actions, it remains nonbinding as negotiations over the details continue.

Regarding agricultural goods, the fact sheet states that the agreement will “enable U.S. farmers, ranchers, fishermen, and manufacturers to increase U.S. exports, expand business opportunities, and help reduce the goods trade deficit with the European Union.” It also outlines steps to eliminate non-tariff barriers, including efforts to streamline sanitary certificate requirements for U.S. pork and dairy products.

On tariffs, the sheet notes: “The European Union will pay the United States a tariff rate of 15%, including on autos and auto parts, pharmaceuticals, and semiconductors,” and reaffirms the existing 50% rate on steel and aluminum. It also states that the EU will work to eliminate tariffs on U.S. goods across various sectors.

Press releases from the EU indicate that “U.S. tariffs on EU aircraft (and parts), certain chemicals, certain generic drugs, and natural resources will return to pre-January levels,” with plans to expand the list further. The White House fact sheet does not include an updated list of articles currently excluded from reciprocal tariffs.

OCEANAIR will continue monitoring for formal updates and U.S. Customs trade messages for additional details.