The 15 per cent tariff is well above the average of just under 5 per cent which applied on all EU imports to the US before Trump came to office. The promises last week of a €9.4 billion budget package was on the basis of 10 per cent tariffs applying - now the Department of Finance will have to do its sums on what has actually emerged. The Trump administration is also examining key sectors like pharma and semiconductors – seen as vital to national security – under a separate process, soon to be concluded, known as the section 232 studies and Trump may see this as his driver of policy in this area.
Author: Cliff Taylor
Published at: 2025-07-27 19:59:45
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