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15% tariffs (2): exempt aircraft and their components, some chemical and agricultural products

However, the taxes affect most sectors, including automotive and semiconductors

According to European Commission president Ursula von der Leyen's statement on the agreement reached with US President Donald Trump (see AVIONEWS), duties are "stabilized at a 15% tariff rate on the vast majority of European Union exports" for "most sectors, including automotive, semiconductor, and pharmaceuticals". This percentage represents the maximum limit: the taxes are not expected to be added to others, as has been the case until now with respect to auto tariffs, which are 25% on top of the existing 2.5%.

On a series of "strategic products", again according to the Commission president, the import duties are "zero-for-zero". This measure affects "all aircraft and aircraft components, certain chemical products, certain generic pharmaceuticals, semiconductor equipment, certain agricultural products, natural resources, and critical raw materials". The intention, however, is to include other products in the list as well. On steel and aluminum, however, both the US and the EU will have to face "the common challenge of global overcapacity", according to von der Leyen; for now, the tax on steel will remain at 50% until a new agreement is reached. Furthermore, according to some officials, exports of pharmaceutical products from the EU will not be subject to duties until the conclusion of the national security investigation under Section 232 -part of the Trade Expansion Act that allows the US president to impose tariffs or restrictions on imports if they threaten national security-. In any case, taxes cannot exceed 15%.

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AVIONEWS - World Aeronautical Press Agency
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