The US and the EU reached a deal just days before Trump’s threatened deadline.
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Welcome to The Logoff: The US and the European Union have arrived at a new trade deal, just days before President Donald Trump’s threatened deadline to impose substantial new tariffs.
What’s in the agreement? Only the broad strokes of the deal have been announced so far, but it sets a new tariff rate of 15 percent on many imports from the EU, half the 30 percent rate that had been threatened. It also includes a promise of mutual tariff-free trade on some products, including aircraft and some generic drugs, and a European commitment to buy $750 billion in US energy over the next three years.
Other points are still under negotiation, according to European Commission President Ursula von der Leyen, including whether European wine and other spirits will receive an exemption from the 15 percent tariff.
