On July 27th, President Trump and European Commission President Ursula von der Leyen announced a new trade agreement between the U.S. and the European Union. This agreement aims to rebalance the economic relationship between the two regions while creating new opportunities for U.S. exporters, manufacturers, and investors.

Key Points of the Trade Agreement:

• The European Union will purchase $750 billion in U.S. energy and invest $600 billion in the U.S. economy by 2028.
• A flat 15% tariff will be applied to most EU-origin goods entering the U.S., including automobiles, pharmaceuticals, and semiconductors. This replaces the previously proposed 30% tariff.
• Zero tariffs will be applied to several strategic product categories, including aircraft parts, certain chemicals, semiconductor equipment, and critical raw materials.
• Steel and aluminum imports from the EU will remain subject to a 50% U.S. tariff, with a future quota system under discussion.
• The EU has committed to reducing non-tariff barriers affecting U.S. industrial and agricultural exports, with a focus on streamlining documentation and regulatory processes.
• The agreement includes efforts to enhance digital trade cooperation and avoid discriminatory digital barriers.
• Both parties will strengthen economic security coordination, including supply chain resilience, investment reviews, and enforcement of trade rules.

As more implementation details become available, we will provide further updates and guidance, particularly regarding any changes to tariff classifications or documentation requirements.