US, EU strike new trade deal

Business Aug 21, 2025

The US and European Union just sealed a new trade agreement, setting a 15% tariff on EU cars and pharmaceuticals headed to the States.
This update tweaks their massive $2 trillion annual trade partnership—and it's actually less harsh than the 30% tariffs President Trump once threatened on European goods.

Deal includes $750 billion in US energy purchases

EU Trade Commissioner Maros Sefcovic called it "serious and strategic," though EU wine and spirits didn't escape tariffs.
The agreement also removes duties on some industrial and agricultural products, tackles non-tariff barriers, updates digital trade rules, and includes big commitments: $750 billion in US energy purchases and $600 billion in EU investments by 2028.