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U.S. and Europe Unveil New Trade Pact Details with Tariff Adjustments and Energy Commitments
U.S. and Europe Unveil New Trade Pact Details with Tariff Adjustments and Energy Commitments
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BTCCSquare news:
The U.S. and European Union have disclosed specifics of their newly negotiated trade agreement, outlining tariff structures for key industries including aerospace, automotive, and pharmaceuticals. Aircraft and generic drugs will escape the 15% U.S. tariff applied to most European goods, while auto levies remain at 27.5% pending reciprocal EU concessions on industrial components and seafood.
Energy cooperation emerges as a cornerstone of the pact, with Brussels committing to increased purchases of American LNG, crude oil, and nuclear technology. A notable $40 billion allocation for U.S.-manufactured AI chips signals strategic alignment in tech infrastructure development.
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