European -American agreement on mutual trade
Brussels, on August 21/ WAM/ The United States of America and the European Union announced in a joint statement that they reached a framework for a fair and balanced mutual trade, in a move described as a practical confirmation of the commitment of both sides to enhance trade and investment on balanced and equal foundations.
The statement pointed out that the agreement would put commercial relations on a solid ground and contribute to the revitalization of economies through the re -manufacturing, as well as the European Union’s recognition of American concerns and the insistence of the two parties to address the imbalances of the trade balance and employ the full capabilities of their joint economic strength.
The agreement stipulates that the European Union will cancel customs duties on all American industrial goods and provide a preferential enforcement to its market for a wide number of agricultural and marine products, including dairy products, nuts, fruits, fresh and manufactured vegetables and bison meat, as well as extending the work of the Customs tariff agreement with the expansion of its scope.
On the other hand, the United States is committed to applying the highest tariff between the rate granted to the most sponsored countries or 15% on European commodities, with the exception of some products such as unavailable natural resources, aircraft, their parts, generic drugs, their components and chemicals as of September 2025, in addition to reducing the fees imposed on cars and European spare parts in the event of Brussels approve the legislation needed to activate the reduction of customs tariffs.
The agreement also includes mechanisms for cooperation in securing supply chains for steel and aluminum and their derivative products, and coordinating positions to face global production surplus.
According to the statement, the European Union pledged to buy liquefied natural gas, oil and nuclear products from the United States with an expected value of $ 750 billion until 2028, in addition to importing American artificial intelligence chips with a value of $ 40 billion to provide European computing centers, while European companies will invest 600 billion dollars in strategic sectors within the United States by the same year, while the European Union announced its intention to enhance its purchases from American defensive equipment in support of the Intelligent Defense Cooperation and the strengthening of NATO capabilities.
The two sides are also committed to reducing non -customs barriers, mutual recognition of standards and specifications in the field of cars, expanding cooperation in the industrial sectors, as well as addressing the restrictions imposed on the trade of agricultural products and commitment to not imposing fees on electronic transactions and continuing to support the cessation of customs duties on digital trade within the World Trade Organization.
The agreement included understandings related to facilitating environmental sustainability procedures, alleviating administrative burdens on companies, cooperation in the field of energy, technology and cybersecurity, enhancing the protection of intellectual property rights and labor rights, as well as addressing non -market practices and unjustified restrictions on digital trade and control over investments.
The statement concluded by emphasizing that the agreement represents a first step that can be developed to include additional areas over time.
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