While not all details have been ironed out, we have a good idea of what the U.S.–EU trade agreement will look like following the recent announcements. The main contours of the deal are as follows: • The U.S. will charge a 15% tariff rate on the vast majority of EU goods. Key exceptions are steel and aluminium (where the tariff rate will remain at 50%) and aircraft, plus some other goods where the tariff will be zero. Autos, semiconductors, and pharmaceuticals also appear to be subject to the 15% tariff, which is positive given fears of more unfavorable treatment of these sectors. • The EU commits to 1) make $750 ... (full story)