- Our trade deal is a very good deal if compared to others
- This is a framework deal that creates immediate relief while we formalise other details
- 15% tariff rate applies to Section 232 tariffs except on steel and aluminum
- This will apply to cars and car parts
- Will also apply to pharmaceuticals once US investigation is complete
- Joint statement with the US is very much ready, waiting on US to revert back to us
An important point to note is that the EU is saying that the joint statement will explicitly note that this is a framework for a trade deal only and will not be legally binding. The final point there being a crucial thing to be aware of. It’s the same thing we’re seeing with the likes of China, UK, and Japan more or less.
This article was written by Justin Low at investinglive.com.
