On July 27, 2025, President Trump announced that the U.S. and European Union (“EU”) have reached a trade deal. Pursuant to the Fact Sheet released by the White House on July 28th, the U.S. will impose a 15% tariff on all EU goods, including auto parts, pharmaceuticals, and semiconductors. The Fact Sheet further stated that
On Saturday, the United States and the European Union reached an agreement on section 232 duties being imposed because of global steel and aluminum excess capacity concerns. The trading partners have agreed that the U.S. will adjust tariffs on steel and aluminum to allow elimination of certain U.S. section 232 duties, and the EU will suspend its retaliatory tariffs.