Impact of US tariffs varies across European Union • FRANCE 24 English
It’s a huge deal. A deal with winners and losers. 15% US tariffs on most European goods are well below Donald Trump’s worst threats, but far higher than the pre-Trump baseline of just around 1%. EU Commission President Ursula Vanderlion emphasizing a number of exemptions for key European industries. Today we have also agreed on a zero for zero tariffs on a number of strategic products. This includes all aircraft and component parts. That aeronautics carve out a particular relief for European plane maker Airbus. The continent’s civil aviation industry as a whole accounts for some 1 million European jobs and relies heavily on exports. French airplane and parts exports to the US hit 9.7 billion euros worth last year. For Europe’s critical automobile sector, a lightning of the burden. Imported cars have faced a global 25% US tariff since April. European automakers shipped around 38.5 billion euros worth of vehicles to the states last year. Trump’s tariffs have caused deep concern, especially for German firms. The fact that we will now only get 15% on European automotives means that for the German economy also the economic damage, the economic harm will be manageable. It will be felt but it will be manageable. Europe’s pharmaceutical industry meanwhile will see its tariff rate increase though not as much as it had feared. 15% is far lighter than the 200% Trump had recently been threatening. The continent’s luxury goods industry though set to take a hit as tariffs for products like leather goods, fragrances, and cosmetics had recently been just 10%. Steel and aluminum as well to remain under 50% US tariffs for now with talks on reduced tariff quotas to continue. Several other sectors remain in suspense like European wines and liquors, their eventual tariff fates still subject to ongoing negotiations.
US President Donald Trump announced on July 28 that the United States was imposing 15-percent tariffs on all European Union countries. These countries are not all equally exposed to the US market and so will not suffer the same consequences when the duties kick in on August 1.
#tariffs #US #EU
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22 comments
EU caved!
US is forcing on Europe, EU agreed, its a slave of USA
"Power is power"- Ceirsei Lannister
We need to stop making new cars until the older ones are sold and by old I mean last year's.
EU autocracy in action, every EU country should negotiate own deals with countries out there!!! EU sucks
This woman, Merkel, Starmer, Macron all these name will go down in history when they turn back and see what caused the fall of EU
How about discussing the impact these Tariffs have on the American consumer
Tariffs are a tax.
I don't want American energy, Russian either, we need a green revolution
From 2% to 15% yeah I'll take that from 1.2 billion to 9 billion dollars thank you very much
An american citizen represented in eu negotiates with the american president.
what do you expect? MAGA!
We're not gonna get blackmailed by the US they said….lol. Our leaders are such a bunch of p*ssies
Do not buy american products and services. Buy european.
It means European Union will nothing sell to USA,because It will be everything too expensiv and out of competition and USA will sell its products in Europe because they will be cheaper-0%. Additionally members of EU should billions for USA,for what?
The real winner are Germany and Italy 😂😂😂
Trump is proving American Imperialism works. The EU has caved, China is next, only Canada has stood tall.
A losing negotiation due to a weak incapable "leader". Poor EU, bullied to the extreme.
How could EU countries agree with such un-balanced deal?
EU lost everything without single term benefiting Europe but claimed it as a winning deal, ridiculous.
The next administration is gonna suffer but somehow is good with donald trump managing the country it will full messed up their own country further deeper and fatter….
This is why EU is a bad idea. Somebody is making decisions for whole EU instead of each country reaching a deal based on their interests
#Euunite2survive , #BuyinEu . This rhetoric about EU-US tariffs since yesterday is banquet of misinformation.
EU just obtained a Framework Agreement. A FA isn’t a Trade Agreement for sure . A lot of work and time consuming must be done , sector by sector to achieve a de facto Trade Agreement . From now on Up to the Europeans do defense theirs national economies and in an acquisition act of products or services to consciously decide who deserves your money and who doesn’t .
I know for sure, a French would never have signed that declaration of surrender. Danke Ursula!
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