28 Jul 2025, 08:19
The USA and the EU Signed an Agreement on Tariffs with New Conditions
- The USA and the EU signed an agreement, reducing tariffs to 15%
- Europe invests $600 billion in the US economy
- Prices for oil have increased following the announcement of the agreement
This is reported by RBC Ukraine, RBC Ukraine.
On July 27, 2025, US President Donald Trump announced a new trade agreement with the European Union, which provides for a reduction of the basic tariff on goods from Europe to 15%. This agreement aims to eliminate the registration of trade relations between the two major economies.
Along with the agreement, Europe commits to purchasing energy resources for a total of $750 billion, as well as investing an additional $600 billion in the US economy. European countries are also providing military technology worth hundreds of billions of dollars.
German Chancellor Friedrich Merz noted that the agreement is significant for the automotive industry, as tariffs are reduced from 27.5% to 15%. He emphasized that stable trade relations are beneficial for both sides of the Atlantic.
Following the announcement of the agreement, oil prices have increased: Brent crude futures reached $68.66 per barrel, while WTI was at $65.38 per barrel. The price increase reflects optimism related to the agreement, as well as potential extensions of suspended tariffs with China.
Tags: USA/Europe/Economy