The European Commission and the United States have announced a new trade framework agreement that eliminates European industrial tariffs and sets a 15% ceiling on U.S. duties. The pact seeks to stabilize transatlantic relations after years of friction and to prevent a new tariff war.
On August 21, Brussels and Washington issued a joint statement laying the foundations for a trade arrangement described as reciprocal, fair, and balanced. According to the European Commission, the framework represents progress in the world’s largest economic relationship and opens the door to broader negotiations in the future.
On the European side, the commitment includes the removal of all tariffs on industrial goods from the United States, as well as the granting of preferential access for American agricultural and maritime products. The list covers nuts, dairy products, fresh and processed fruits and vegetables, seeds, soybean oil, pork, and bison meat. The agreement also renews and expands the previous lobster commitment, now encompassing processed varieties.
For its part, the United States will apply a maximum tariff of either 15% or the Most Favoured Nation (MFN) rate, always opting for the higher of the two. As of September 1, however, Washington will impose only the MFN tariff on certain European goods such as aircraft and parts, generic medicines, chemical precursors, and natural products like cork. In addition, the U.S. pledges to reduce tariffs on automobiles and parts once the EU formalizes its legislation to abolish industrial duties and guarantee agricultural access.
The pact represents a key political and economic gesture, easing tariff tensions across the Atlantic and providing greater predictability for bilateral trade. Nevertheless, sectors such as the European automotive industry will have to wait for the EU to act before benefiting from a real reduction of current tariffs—from 27.5% down to a maximum of 15%.
The joint statement stresses that this framework does not constitute a final agreement but rather marks the beginning of a process aimed at strengthening cooperation in strategic areas such as automobiles, semiconductors, and pharmaceuticals. For both Brussels and Washington, the understanding comes at a moment when reindustrialization and economic security have become shared priorities.
