Last Updated on August 14, 2025
The United States has submitted a draft joint statement to the European Union as part of ongoing negotiations for the US-EU trade deal, according to Politico, citing an EU Commission spokesperson.
“We can confirm that we have received the U.S. text with their proposals aimed at moving closer to finalizing the document. We will now review it,” said Olof Gill, the European Commission’s trade spokesperson, during a press briefing.
Background of the US-EU Trade Deal
On July 27 in Scotland, U.S. President Donald Trump and European Commission President Ursula von der Leyen agreed on a framework for the US-EU trade deal.
The plan includes a 15% tariff on EU imports to the U.S., although several aspects of the agreement are still unresolved.
Current Status of Tariffs in the US-EU Trade Deal
At this stage, Washington has not yet reduced the existing 27.5% tariff on cars to the proposed 15%.
Tariffs on EU steel and aluminum remain at 50%, creating ongoing tension between the trading partners.
Statements from EU Officials on the US-EU Trade Deal
“We will continue engaging at both technical and political levels with our U.S. counterparts. Our aim is to complete the joint statement and have it ready for public reading as soon as possible,” Gill said, without providing a specific timeline.
What the Joint Statement Means for the US-EU Trade Deal
When completed, the joint statement is expected to be a short political declaration — just a few pages — outlining a roadmap for deeper trade negotiations, rather than a legally binding trade agreement.
Potential Future Tariffs in the US-EU Trade Deal
Currently, tariffs on pharmaceuticals and semiconductors remain at zero.
However, the U.S. has launched an investigation to determine if these sectors should be included in the US-EU trade deal tariff structure.
According to an EU factsheet, any new tariffs in these industries would not exceed the 15% baseline agreed in the talks.
What This Means for the Regular Investor
For everyday investors, developments in the US-EU trade deal can directly impact market volatility and investment opportunities.
Lower tariffs on key industries such as automotive, steel, and tech could boost stock prices in those sectors, particularly for companies with significant transatlantic trade exposure.
On the other hand, if negotiations stall or tariffs rise in new sectors like pharmaceuticals and semiconductors, investors might see short-term market uncertainty and sector-specific downturns.
Keeping an eye on these talks can help investors adjust their portfolios accordingly.