DATA & FIGURES
The deal includes several key figures, such as the 15% tariffs applied by the US on most EU exports, and the 0% import duties on some US goods, agricultural products, and seafood. The agreement also includes a 'sunset clause' that will expire on 31 December 2029, unless it is renewed. Additionally, the European Commission will be able to suspend tariff preferences for US goods by 31 December 2026 if the US continues to apply tariffs on steel derivatives.
THE SCENARIO
The geopolitical context of the deal is complex, with the US and EU having a long and tumultuous trade relationship. The US has imposed tariffs on EU products, citing national security concerns, which has led to tensions between the two parties. The EU has protested against these tariffs, and the deal is an attempt to find a compromise and achieve stability for businesses and industry.
DIRECT QUOTE
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BBN INSIGHT
The approval of the tariff deal between the EU and the US is a significant development in the trade relations between the two parties. The deal is expected to bring stability to businesses and industry, and it is a compromise between the two parties. However, the deal is also complex, and it includes several conditions and provisos that need to be met.