A Major Trade Agreement.. Europe Lifts Tariffs on American Industrial Goods

The European Union and the United States announced a new trade agreement that eliminates all tariffs on American industrial goods, along with granting American agricultural and seafood products preferential access to European markets.

The joint statement indicated that the European concessions include various products such as: nuts, dairy, fresh and processed fruits and vegetables, processed foods, seeds, soybean oil, and pork and bison meat.

Key European commitments:

To purchase liquefied natural gas, oil, and nuclear energy products from the United States worth $750 billion by 2028.

A significant increase in purchases of American military and defense equipment.

To invest at least $40 billion in purchasing American artificial intelligence chips for data centers.


In return, Washington agreed to apply "most favored nation" tariffs on some European goods, such as non-renewable natural resources, aircraft and their parts, generic drugs and their components, and chemical precursors.

This agreement comes after weeks of threats from President Donald Trump to impose a 30% tariff on European goods starting in August, as part of a protectionist trade policy he has tightened since returning to the White House.