Commission and US announce joint trade and investment framework agreement
The European Commission and the United States have announced a joint framework agreement that establishes new trade and investment parameters designed to restore stability and predictability in their bilateral economic relations. The framework introduces a maximum tariff ceiling of 15% on most EU exports to the US, covering strategic sectors such as cars, pharmaceuticals, semiconductors, and lumber, while exempting goods that already incur MFN tariffs of 15% or higher. From 1 September 2025, specific product groups will benefit from a special regime applying only MFN tariffs.