US-EU Trade Talks: Progress on Joint Statement

The European Commission received a text from the U.S. administration with suggestions for finalizing a joint trade and tariff statement. While a framework deal was struck in July, only a 15% baseline tariff has been implemented. The EU awaits U.S. executive orders on specific carve-outs.

The European Commission has confirmed the receipt of a text from the U.S. administration detailing suggestions for finalizing a joint statement on trade and tariffs. This update comes as the EU and U.S. continue to negotiate the completion of their trade framework.

Although a baseline tariff of 15% was agreed upon in July, implementation of the deal has stalled, with the EU still waiting for pertinent executive orders from the White House.

These orders are crucial to address specific carve-outs in industries such as automotive, and to move the agreement closer to full realization.

(With inputs from agencies.)