EU-US Trade Agreement: An Asymmetric Deal
1 August was to mark the deadline for the European Union and the United States to reach a trade agreement, following threats of increased tariffs on products imported into the United States and originating in the EU. Donald Trump had announced a 30% rate on most European products, with the exception of steel and aluminum, which were to be subject to a 50% surcharge.
On 24 July, the EU published Implementing Regulation 2025/1564 to detail the trade rebalancing measures for certain American products, as well as European products exported to the United States.
At this point, everything suggested that no agreement would be reached.
Yet on Sunday, July 27, Ursula von der Leyen went to Turnberry, Scotland, at the sports complex comprising three golf courses owned by Donald Trump. On the occasion of this visit, an agreement – or « deal » – would have been concluded, putting an end to US tariff threats.
This agreement, which is still awaiting publication of a Executive order, provides for the introduction of a single rate of 15% on a large proportion of products imported from the European Union (including DROMs), as from 1 August 2025. As regards steel and aluminium, the rate of 50% would remain in force, although discussions are under way on the introduction of quotas.
The Agreement also provides for the reciprocal abolition of certain customs duties on strategic products, in accordance with the principle of « zero for zero » : aeronautical equipment, chemicals, agricultural products, etc.
At the same time, the EU has committed itself to buying over the next three years, $750 billion US energy products (including oil and gas, to alleviate dependence on Russian products) and military equipment. She also promised $600 billion additional investment in the United States.
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