What’s in the EU-US trade deal?
“We are agreeing that the tariff straight across, for automobiles and everything else, will be a straight across tariff of 15%,” according to Trump.
Currently, most EU goods face a 10% tariff, with levies of 50% on steel and aluminum. Cars and car parts are now taxed at 25%.
Trump also said the bloc had agreed to purchase “$750 billion (€638 billion) worth of energy” from his country, as well as $600 billion more in additional investments.
The president told reporters at the start of the meeting that fairness was the main remaining sticking point.
“Europe is very closed. We don’t sell cars into Europe. We don’t sell essentially agriculture of any great degree,” he said, adding that pharmaceuticals “won’t be part of” any agreement.
That was true 20 years ago, but Ford has been moving more and more towards a global strategy.
The Ford Escape, Explorer, Ranger, Focus, Mustang, Mach-E, are available in both US and Europe, and I think now even the F-150 and Bronco have made it into Europe. Plus the Transit commercial range.
So no, they’re not quite separate anymore. Some models get developed in Europe (Focus, Escape), some in the US (Mustang, Ranger) but the general goal is to sell across the Atlantic.