Gee, leftidiots; guess it wasn't a Big Lie, after all, huh? Fucking imbeciles....
In a joint statement on Thursday, the trade partners outlined and reinforced certain provisions. Most importantly, the 15 percent duty rate for European imports to the U.S. market that was revealed in late July will persist, though the partners provided crucial details about the interplay between new "reciprocal" tariffs and existing import duties.
"The United States commits to apply the higher of either the U.S. Most Favored Nation (MFN) tariff rate or a tariff rate of 15 percent, comprised of the MFN tariff and a reciprocal tariff, on originating goods of the European Union," the partners wrote.
As of Sept. 1, Europe-originating products including unavailable natural resources like cork, aircrafts and their parts, generic pharmaceuticals and chemical precursors will face only the MFN rate.
"The United States and the European Union agree to consider other sectors and products that are important for their economies and value chains for inclusion in the list of products for which only the MFN tariffs would apply," the statement said, indicating some wiggle room for negotiating lower duties on specific EU imports.
The EU committed to eliminate tariffs on all American industrial goods (while also providing preferential access for a range of agricultural products). The U.S. will maintain high tariffs on vehicles until those changes are made, reducing the tariffs on automobiles when the EU fulfills its end of the bargain by removing existing trade barriers.
EU, U.S. Release Details of Bilateral Trade Deal
In a joint statement on Thursday, the trade partners outlined and reinforced certain provisions. Most importantly, the 15 percent duty rate for European imports to the U.S. market that was revealed in late July will persist, though the partners provided crucial details about the interplay between new "reciprocal" tariffs and existing import duties.
"The United States commits to apply the higher of either the U.S. Most Favored Nation (MFN) tariff rate or a tariff rate of 15 percent, comprised of the MFN tariff and a reciprocal tariff, on originating goods of the European Union," the partners wrote.
As of Sept. 1, Europe-originating products including unavailable natural resources like cork, aircrafts and their parts, generic pharmaceuticals and chemical precursors will face only the MFN rate.
"The United States and the European Union agree to consider other sectors and products that are important for their economies and value chains for inclusion in the list of products for which only the MFN tariffs would apply," the statement said, indicating some wiggle room for negotiating lower duties on specific EU imports.
The EU committed to eliminate tariffs on all American industrial goods (while also providing preferential access for a range of agricultural products). The U.S. will maintain high tariffs on vehicles until those changes are made, reducing the tariffs on automobiles when the EU fulfills its end of the bargain by removing existing trade barriers.
