Italian Foreign Minister Commends EU-U.S. Trade Agreement
(MENAFN) Italy’s Foreign Minister Antonio Tajani on Friday commended the recent EU-US trade agreement, which imposes a 15% maximum tariff on European goods, as a key step in preventing a full-blown trade conflict.
Describing the 15% tariff rate on critical sectors such as pharmaceuticals and automotive as "positive" given the tough starting point, Tajani emphasized progress in negotiations.
The European Union and the United States released their joint statement Thursday, confirming the deal finalized last month in Scotland. It stipulates that tariffs on cars, semiconductors, and pharmaceuticals entering the US will not exceed 15%.
Tajani also highlighted a provision in the statement that opens the door for continued dialogue on additional sectors, with the EU committed to pursuing these talks.
The agreement further grants a special regime for certain goods, including cork, all aircraft and aircraft components, generic pharmaceuticals and their ingredients, and chemical precursors. These products will face only standard, non-discriminatory tariffs beginning September 1.
However, steel and aluminum exports from the EU remain subject to the existing 50% tariff.
In response to whether the EU compromised too much, Tajani firmly stated, "I don't see it that way, and I think Europe has shown its ability."
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