FLASH NEWS
Trump and Von Der Leyen reach agreement, US reduces tariffs to 15% on European vehicles and pharmaceutical products
2025-08-21 16:14:49 / BOTA
The United States will lower tariffs on European vehicles and pharmaceutical products to 15%, according to a joint statement issued by the White House and Brussels and reviewed by Politico before publication.
The four-page document, dated August 18, sets out the main points of the agreement reached by US President Donald Trump and European Commission President Ursula von der Leyen when the two leaders met in Scotland on July 27.
The two leaders' statements on the deal differed at the time, particularly on pharmaceuticals, raising concerns that European drugmakers could ultimately be excluded from the US market.
In another key clause, the joint statement confirms that the US will reduce tariffs on cars and car parts in most cases from 27.5% to 15%, but only after the EU formally adopts legislation to “eliminate tariffs on all US industrial products.” The EU currently imposes a 10% tariff on car imports.
The EU will expand market access for non-market-sensitive US agricultural products. The US, for its part, is committing to exempt aircraft and their parts, as well as generic medicines, from the highest tariffs, applying the most-favoured-nation tariff to these imports.
In addition, Washington and Brussels will join forces to address overproduction of steel and aluminum and explore the possibility of introducing tariff quotas. This was a key demand of the European side, in order to avoid a 50% tariff on steel and aluminum exports.
Happening now...
The Ukraine summit that ignored the tough questions
Nga Owen Matthews, SPECTATOR
ideas
top
Alfa recipes
services
- POLICE129
- STREET POLICE126
- AMBULANCE112
- FIREFIGHTER128