The United States and the European Union have elaborated a new business framework aimed at resolving imbalances through mutual privileges and coordinated policies, as reported by Yahoo Finance. According to the agreement, the European Union destroys all tariffs on US industrial goods and provides preferential access to key American agricultural products, including tree nuts, dairy and meat. Instead, the United States pledges to close the tariffs in most EU goods with a maximum of 15 %.
Read Alao: US & EU Business Trading: Divergent views and continuous negotiations
A significant energy component includes the EU’s commitment to producing approximately $ 750 billion in natural gas, oil and liquefied nuclear energy in the United States by 2028. According to the Indexbox platform data, this commitment corresponds to the growing volume of US exports in the energy sector. In addition, the European Union buys $ 40 billion in US AI chips for computing centers.
The transaction deals with non -tariff barriers through mutual understanding of car standards and changes in the EU carbon border regulation mechanism. It also determines the new digital trade parameters, which both parties agree not to impose customs duties on electronic transfer. European companies are expected to invest $ 600 billion in the US strategic sector by 2028.
Reacted to the mixed agreement. A US official welcomed it as a great victory for American workers and industries. However, a European geopolitical analyst has announced that the European Union has traded strategic independence for stability and provides defensive tariff ceilings while the United States gains access to offensive market.
Source: Indexbox market information platform
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