EU and US publish Joint Statement on transatlantic trade and investment

The EU and US have issued a Joint Statement establishing a framework for fair, balanced and mutually beneficial transatlantic trade and investment, EU Trade Commissioner Maroš Šefčovič told journalists in Brussels, according to Report's European bureau.

He said the document confirms and builds on the political agreement reached by President von der Leyen and President Trump on 27 July.

"The Joint Statement lays out in detail the new US tariff regime towards the EU, with a clear maximum, all-inclusive, tariff rate of 15% for the vast majority of EU exports, including strategic sectors such as cars, pharmaceuticals, semiconductors and lumber. Sectors which are already subject to Most Favoured Nation (MFN) tariffs of 15% or above, will not be subject to additional tariffs," he said.