U.S. tariff of 15% on EU goods is all-inclusive, EU official says
The tariff framework will apply broadly to EU exports, except for steel and aluminium, the official said. The 15% rate will also apply to cars and car parts, with no quotas or limits, he added.
"What we have obtained in our deal is the best available treatment," the EU official told reporters, while adding that the 27-nation bloc was not celebrating the 15% rate, but that it considered it was a very good deal compared to others.
Tariffs on pharmaceuticals and semiconductors are currently zero, but if they rise as a result of a U.S. probe into imports of those products, they will not exceed the 15% ceiling.
Talks on a joint statement with the U.S. that will spell out more details are very advanced, with the text broadly ready, with the EU waiting for a response from Washington to finalise things, the official said. He declined to give a timeline for its release.
Discussions on steel are taking longer due to the need to address volume-related issues, he said.
The EU is also working to finalise a list of essential products that will be exempt from U.S. tariffs, a process the official said will take some time. The EU is trying to get as many products as possible into the list of tariffs exemption, at a zero-for-zero rate.
As part of the agreement, the EU will increase imports of U.S. bison meat.
EU exports of car and car parts to the U.S. currently face a 27.5% tariff. But in Scotland last month, the EU and U.S. President Donald Trump announced as part of the framework deal on trade that duties on cars and car parts would be reduced to 15%. The EU official said on Tuesday that he expected that to happen "very soon".
"Again, I have to insist that we're not celebrating this (trade deal). This is a sense of relief for us. No calls for celebration," the official said.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Independent
13 minutes ago
- The Independent
Trump admin is targeting Gen Z for ICE roles now
Donald Trump 's administration is urgently seeking to launch an advertising campaign to recruit over 14,000 immigration officers for rapid removals. Immigration and Customs Enforcement (ICE) plans to target Gen Z, early-career professionals, and individuals from law enforcement, military, and legal backgrounds via social media and streaming platforms. Congress has earmarked significant funding, including $30 billion for the hiring spree and $45 billion for ICE detention centres, contributing to over $170 billion for immigration enforcement over the next decade. Recruitment incentives include signing bonuses of up to $50,000 and student loan forgiveness, with age limits removed to allow applicants from 18 years old and older than 40. Despite a recent decline in daily arrests and reported morale issues, the agency's rapid expansion is projected to result in its highest-ever deportation capacity, making it challenging for future administrations to scale back.
The Independent
13 minutes ago
- The Independent
Electric car grants and discounts round up – Citroen first to get grants, while Vauxhall and Fiat are the latest with discounts
Citroen is the first car maker to offer discounts on its electric car range as part of the official government Electric Car Grants that were announced three weeks ago, with the eligible Citroen models now showing on the official government website as being available with grant money applied to the list price. Models including the Citroën e-C3, e-C4, e-C4 X and e-Berlingo are getting £1,500 off with immediate effect, with customers automatically benefiting from the discounts without having to do any paperwork. The upcoming e-C3 Aircross and e-C5 Aircross models are also set to get the same £1,500 discounts when they go on sale in the coming months. The first official discounts come three weeks after the government's announcement of the Electric Car Grant, and as news broke of a drop in car sales. Overall car sales were down five per cent in July, while there was a clear slow down in the rate of growth of EV sales. It had been expected that there would be a pause in electric car sales as buyers waited to see which cars would be eligible for discounts and which cars wouldn't. One car company executive, speaking anonymously to The Independent, confirmed that dealers were reporting customers cancelling orders until it was clear which cars were and which cars weren't eligible for grants.. The electric car grant was announced on Monday 14 July and went live on Wednesday 16 July. Car makers must apply for the grants, which are available on EVs up to the price of £37,000 and where car makers have signed up to low-carbon 'science-based targets' around manufacturing. Grants of between £1,500 and £3,750 will be available for eligible cars. While the announcement of the EV grant has been broadly welcomed by car makers, it took many of them by surprise, with some learning about the government plan via the media. As car companies grapple with the process involved in getting approval for the grants, many of them have introduced their own discount schemes to incentivise customers to keep buying their electric cars. The latest discounts come from Vauxhall and Fiat – fellow Stellantis brands to Citroen. Vauxhall is offering £1,500 off its entire range of Corsa, Frontera, Mokka, Grandland, Astra and Astra Sports Tourer, with additional benefits including up to £1,500 deposit contribution on zero per cent finance on some models, or a £2,500 deposit contribution towards finance on the Grandland. Vauxhall's 'Electric All In' offer of £500 towards a home charger or public charging also still stands. Fiat is offering £1,500 off its 500e, Fiat 600e, Abarth 500e and Abarth 600e all-electric models, with zero per cent finance still available on the 500e. Volkswagen Group brands VW, Skoda and Cupra have launched a 'Grant Guarantee' discount scheme while waiting for news from the government. VW is offering £1,500 off selected ID. 3 and ID. 4 all-electric models. 'We welcomed the Government's announcement of its Electric Car Grant and wanted to make sure customers could start benefitting from lower-cost electric motoring as quickly as possible. We have already seen an uplift in enquiries since the Government's grant was announced, which is great news for Volkswagen's electrification plans,' said Rod McLeod, Director of Volkswagen UK. Skoda is offering the same £1,500 discount across its Elroq and Enyaq model range, but not the Enyaq Coupe, while Cupra is offering £1,500 off many of its Cupra Born models. VW, Skoda and Cupra offers apply to cars bought during August and registered for the new 75 registration plate with deliveries starting on September 1. However, VW, Skoda and Cupra have all made it clear that if the government's EV grant comes through, the brands' Grant Guarantee scheme will end – customers won't be able to receive both. Last week, Volvo introduced a discount in lieu of any government grant, with £1,500 off any of the brand's EX30 electric models, even those that cost over the £37,000 limit. Smart also offered its own 'EV grant' with £1,500 off the whole range of Smart #1 and #3, in addition to existing incentives. That means you could save a total of £3,500 off a Smart #1, for example. Hyundai has its own electric grant, with the biggest discount available on Hyundai's smallest model. The Hyundai Inster – recently voted World Electric Car of the Year – gets a £3,750 'grant' bringing the entry-level car's price down to £19,755. There's still an additional £500 off if you go for Hyundai's low-rate PCP finance, too. The rest of the Hyundai electric car range, including models over £37,000, are also getting a £1,500 discount as part of the offer. Buyers of Chinese-made EVs were also left to reconsider their purchases with news that the government wasn't expecting those models to be eligible for the Electric Car Grant. Speaking on Radio Four, Minister for the Future of Roads, Lilian Greenwood, said: 'We don't expect any cars that are assembled in China to be eligible for this scheme. 'The grant is restricted to those manufacturers that reach minimum environmental standards. And, frankly, if you generate a lot of the electricity that powers your factory through coal power stations, then you are not going to be able to access this grant." The Department for Transport told The Independent: 'We expect dozens of models will be eligible but manufacturers will need to apply for the grant before we can confirm eligibility. We have held multiple calls with vehicle manufacturers to explain vehicle eligibility and how to apply for the grant. These discussions will continue to ensure manufacturers have all the information they need. 'All eligible models will be published on once the application has been approved. Applications will be processed on a first come, first served basis and as quickly as possible.' Chinese car brands have been quick to react by introducing their own 'EV grants' to stimulate demand among private buyers. Leapmotor was first out of the blocks with its Leap Grant, offering £1,500 off the Leapmotor T03, making it Britain's cheapest car at £14,495, while the Leapmotor C10 family SUV gets a £3,750 discount, taking the price down to £32,750. MG followed with its own EV grant, offering a discount of £1,500 off the MG4 and MGS5 EVs on top of existing offers, while another Chinese brand, GWM, has taken the full £3,750 off its GWM ORA 03 models with its Green Grant, bringing the starting price down to £21,245. Relatively unknown Chinese brand Skywell is also throwing its own EV grant of £3,750 on top of a £6,000 dealer deposit contribution if you buy the Skywell BE11 on finance. That brings the potential list price down to just £27,245 for the entry-level car. The BE11 is far from the best EV you can buy, but at that price it represents a lot of car for the money. It's not just Chinese brands applying discounts, though. Alfa Romeo is offering £1,500 off its Alfa Junior Elettrica range, on top of existing zero per cent finance offers and the promise of a free EV home charger with standard installation.
Reuters
14 minutes ago
- Reuters
Schumer condemns Trump administration's $64-million NYC security cut
WASHINGTON, Aug 6 (Reuters) - New York's senior senator on Wednesday blasted the Trump administration's plan to cut security funding for New York City, calling the decision 'irresponsible and dangerous.' The Federal Emergency Management Agency posted a notice of New York's reduced grant online on Friday, just days after a gunman killed four people inside a Manhattan skyscraper. Senate Democratic Leader Chuck Schumer, who represents New York, asked FEMA to reverse a $64-million cut to the city's federal security funding, first reported by Reuters on Tuesday. 'Donald Trump treats NY like his personal punching bag in an attempt to settle political scores — and failing to release NY's critical anti-terrorism funds is stooping to a new low,' he said in a statement. The cut is part of the Trump administration's transformation of FEMA, the federal agency charged with responding to disasters. The agency also distributes security funding to states and densely populated cities to 'respond to acts of terrorism and other catastrophic events,' according to its website. The Department of Homeland Security, FEMA's parent agency, said in a statement it is encouraging cities to tap a separate pool of funding to cover security needs, known as the State Homeland Security Program. FEMA is also slashing New York's funding from that program by 38% year-on-year, according to an August 1 notice, opens new tab. FEMA said in July it would not cut it, but reversed course. FEMA did not immediately respond to a request for comment about the change. FEMA also cut urban security funding for Washington, D.C., San Francisco, and Los Angeles, according to the August 1 notice. Washington saw the largest cut year-on-year at 44%. The Trump administration is also requiring states to spend part of their federal security funding on arresting migrants. In New York City, Mayor Eric Adams is 'committed to securing every federal dollar that New Yorkers deserve,' his spokesperson Liz Garcia said in a statement. The city spends the funding over several years, adding that the mayor's office recently used part of its 2020 money, she said. Senator Kirsten Gillibrand, a Democrat from New York, said in a statement she would ask Homeland Security Secretary Kristi Noem about the funding cuts, adding that it is possible the agency is 'risking New Yorkers' safety as a political power move.'
