US commits to 15 percent tariff ceiling on key EU sectors in joint statement
By Oscar Pandiello ( August 21, 2025, 13:44 GMT | Insight) -- The US will include EU exports of semiconductors, pharmaceuticals and lumber under the 15 percent baseline cap — regardless of ongoing Section 232 investigations — according to the joint trade statement published today by both sides. The text, which follows the July 27 announcement, also states that EU cars will receive the same rate once the bloc proposes legislation to open its market to US industrial and agricultural goods. EU spirits and wines were excluded without a carveout. The bloc also pledged flexibility on carbon border rules and deforestation laws affecting US exporters.EU exports of semiconductors, pharmaceutical products and lumber to the US will face a tariff ceiling of 15 percent under the joint trade statement published today by the European Commission and the US administration....
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