Car manufacturers are relieved as the US has reduced tariffs on EU exports to 15%, down from over 27% in recent months. However, industry analysts warn that even this lower rate will still cost manufacturers billions of euros annually.
In 2024, the EU exported €532 billion worth of goods to the US, mainly pharmaceuticals, vehicles, and machinery, while importing €333 billion, resulting in a €198 billion trade surplus. The US mainly exported petroleum, gas, and power-generating machinery to the EU.
Notably, the steel and aluminum sectors remain burdened by 50% tariffs. France has criticized the agreement as unbalanced, with Foreign Trade Minister Laurent Saint Martin emphasizing the need for further negotiations, especially in services.
(This video summary was created using AI. A journalist edited it before publication.)