Edinbara1 minute ago
- Copy link
The initial trade agreement has been reached between the US and the European Union (EU). Under the US agreement, a base tariff of 15% will be imposed on most of the goods coming from EU. It includes cars, medicines and electronics goods.
US President Donald Trump announced the agreement in a meeting with EU President Ursula von Der Leyen in Scotland. According to this, EU will buy energy worth $ 750 billion, or about 64 lakh crore rupees from the US in the next three years.
Along with this, EU will invest $ 600 billion in America i.e. 51 lakh crore rupees. These investment will be in the US pharma, auto and defense sector.
On July 11, Trump sent him a letter in which it was written that if the agreement was not reached by 1 August, 30% tariff would be imposed.
Tariff finish on aircraft, chips, agri products
EU chairman Ursula von Der Leyen said that both sides have decided to completely eliminate tariffs on aircraft, their parts, semiconductor equipment, some agricultural products and generic medicines. However, 50% of tariffs on steel and aluminum will continue.
Negotiations were going on for 7 months on tariff
The European Union and the US were talking about the tariff for the last 7 months. However, EU was not giving any special discount. However, EU was soft and agreed after Trump’s 30% tariff threats.
The European Union is the third largest economy in the world. It consists of 27 countries in Europe. The US, European Union has a trade of about $ 3.5 billion every day. At the same time, Mexico is the largest trading partner in America.
Source link
[ad_3]
