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EU-US trade deal brings relief to transatlantic business
The framework agreement reached between the EU and the US provides relief to businesses bracing for significant disruption across global supply chains. The deal brings much-needed de-escalation in the ongoing dispute and greater certainty for companies. However, a 15% tariff still marks a significant increase in the cost of trading across the Atlantic for many sectors.
The EU and the US must now build on this deal to reach a permanent agreement, with technical details defined as soon as possible. Clarity over implementation, including next steps for Section 232 tariffs, will be critical for companies, who need a predictable framework to operate. The EU and the US should expand the number of sectors included in the deal’s zero-for-zero tariff list, with the goal of creating a zero-tariff zone across the Atlantic.
Ultimately, the two sides should advance regulatory cooperation and a shared approach to common geopolitical challenges. The commitment to work more closely on issues such as energy, defence, technology and global overcapacity is a constructive first step in reinforcing the transatlantic economic partnership.