EU cars, pharma imports into US to face 15% tariffs under new trade deal
European car and pharmaceutical exports to the United States will face a 15-percent tariff, according to a joint statement from the US and EU on their trade deal.
CAR and pharmaceutical exports from the European Union into the United States will face 15 per cent tariffs, according to a joint statement issued by the US and EU on August 21, AFP reported.
EU trade commissioner Maros Sefcovic said the new trade deal, “is a serious, strategic deal — and we are fully behind it.”
"A wide range of sectors, including strategic industries such as cars, pharmaceuticals, semiconductors, and lumber, stand to benefit," Sefcovic added.
The EU has so far failed to secure a US tariff exemption for its cherished wine sector, but negotiations will continue, Sefcovic added, as per the report.
“Unfortunately, here we didn't succeed. These doors are not closed forever,” Sefcovic told a press conference referring to European wine and spirits as Brussels and Washington published a joint statement detailing their trade deal.
