Customs Agreements: How the Trade Deal Between the EU and the US Will Impact the Economy

According to hvylya.net: It seems that a new trade agreement between the US and the EU is currently underway, which has implications for both consumers and companies. According to the agreement, tariffs on most European goods will rise to 17%, which could lead to increased prices for American consumers and reduced profits for European companies. Additionally, the agreement calls for EU companies to purchase American natural gas, oil, and nuclear fuel for a significant amount over the next three years.

The deal contains several important details, including zero tariffs on certain 'strategic' goods between the EU and the US. However, it should be noted that the half-percent tariff on imported steel remains, and pharmaceutical products are not included in the agreement's scope. The reaction to the agreement has been mixed, with support from Friedrich Merz and criticism from French officials.