European Union assumes its faces 15% tariffs in the US from Friday. But a key text still isn’t ready

European Union assumes its faces 15% tariffs in the US from Friday. But a key text still isn’t ready

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The European Commission says it presumes the United States will impose a 15% tariff on most EU exports from Friday

ByLORNE COOK Associated Press

BRUSSELS — The European Union is working on the assumption that the United States will impose a 15% tariff on most EU exports from Friday, even though the two sides have yet to complete a key document clarifying how the agreement will operate.

Last weekend, U.S. President Donald Trump and European Commission President Ursula von der Leyen reached a political agreement that would see 15% duties imposed on around two-thirds of EU produce, worth around 380 billion euros ($434 billion).

The tariffs are set to enter force on Friday, but as of Thursday the two sides were still working on a joint statement that would lay out the terms of their understanding, European Commission spokesman Olof Gill said. The document wouldn’t be legally binding.

“It is the clear understanding of the European Union that the U.S. will implement the agreed across the board tariff ceiling of 15%,” Gill said. The commission negotiates trade terms on behalf of the the EU’s 27 member countries.

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