Joint Statement of the United States and the EU on Trade: key insights

The evolving trade relationship between the European Union and the United States is defined by t oday Joint Statement , which establishes key commitments aimed at enhancing economic cooperati on. This framework introduces a maximum all-inclusive tariff ceiling of 15% on EU products and incorporates specific exemptions for strategic goods . Notably, the agreement emphasizes collaboration to address overcapacity in key sectors and reduce non-tariff barriers while fostering digital trade. Additionally, significant private sector investments are projected, with European firms expected to inject $600 billion into the U.S. economy by 2028 highlighting EU commitment to the transatlantic partnership but also the mutual benefits of stability and predictability in commerce. Overall, the Joint Statement positions EU exports more favorably, compared to those from other US trading partners, maintaining competitiveness. The United States and the European Union, in line with their relevant internal procedures, will document the Agreement. To the extent that legal implementation is necessary on the EU side, it will be taken forward in accordance with the applicable EU procedures and in consultation with Member States and the European Parliament. This agreement represents favorable news for the EU and appears more balanced than previously anticipated, particularly due to the exemptions, the reduction of tariffs on cars from 2 7,5 % to 15% and potential reductions in tariffs in additional sectors. The risk to GDP growth is likely to decrease somewhat .