India, July 28 -- The United States and the European Union have reached a deal on tariffs and trade, agreeing on 15 percent import duty on vast majority of EU goods.
This is just half of the rate that Trump had threatened to implement from August 1.
This rate applies across most sectors, including cars, semiconductors and pharmaceuticals. "This 15% is a clear ceiling. No stacking. All-inclusive. So it gives much-needed clarity for our citizens and businesses. This is absolutely crucial," European Commission President Ursula von der Leyen said after her meeting with President Donald Trump at his Turnberry golf resort in Scotland on Sunday.
The two sides have also agreed on zero-for-zero tariffs on a number of strategic products. This incl...