European Union: "U.S. 15% Tariff on the EU Applies Across the Board, Including Automobiles and Semiconductors"
Summary
- The European Union (EU) announced that the 15% tariff imposed by the United States is comprehensively applied to most EU products.
- In particular, it was reported that the 15% tariff ceiling applies equally to automobiles and automobile parts, with no separate import quota or quantity restrictions.
- Currently, the United States maintains a zero-tariff policy on pharmaceuticals and semiconductors, but it was stated that if these items are subject to additional review in the future, a tariff of up to 15% could be imposed.
The European Union (EU) customs authorities have assessed the U.S.-imposed 15% tariff as a "comprehensive measure applicable to all items."
According to BlockBeats, a virtual asset (cryptocurrency) focused media outlet, on the 5th, a high-ranking EU official stated, "The 15% tariff imposed by the U.S. on EU products applies to most items except steel and aluminum and is a blanket tariff rate, including the Most-Favored-Nation (MFN) tariff rate." It was explained that this is a different measure than that taken with countries that have entered free trade agreements with the U.S.
The EU official added, "The same 15% cap applies to automobiles and automobile parts," and "there are no separate import quotas or quantity restrictions for these items."
The media outlet noted, "Currently, the U.S. maintains a tariff-free policy on pharmaceuticals and semiconductors," but also stated, "if these goods are later designated for investigation under Section 232 of the Trade Expansion Act, tariffs can be imposed. However, even in such cases, the rate will not exceed 15%."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
