This framework agreement on “Reciprocal, Fair, and Balanced Trade” is not a legally enforceable treaty but rather a clarification of the handshake deal between US President Donald Trump and European Commission President Ursula von der Leyen. It confirms key elements: • A 15% US tariff on most European goods • European intentions to reduce or eliminate certain tariffs on US goods • Increased European purchases of US energy • Greater investment in the US • You can read the full statement here The agreement outlines which sectors will be subject to the 15% tariff. For Europe, it’s a relief that pharmaceuticals and ... (full story)