On Tuesday, EU officials announced that all goods entering the United States from the European Union are now subject to a comprehensive 15% tariff, inclusive of the most-favored-nation tariff rate. This measure distinguishes the EU from other countries that have trade agreements with the U.S. The tariff applies to all products, with the exception of steel and aluminum. Currently, drugs and semiconductors are exempt from this tariff, and in the event that they become subject to an increase due to the outcomes of the U.S. Section 232 investigation, the tariff imposed will not exceed 15%. This tariff cap also extends to automobiles and automotive parts, without any additional quotas or restrictions.
