US, EU Reach Preliminary Trade Deal, Tariffs on Pharmaceuticals Loom

The United States and the European Union have reached a preliminary framework agreement, but there are still many key areas that need to be negotiated. The digital services tax and steel and aluminum trade are expected to be the main topics of discussion. The United States has indicated that it will continue to communicate with EU trade officials to discuss these issues. The EU hopes to include steel and aluminum in the discussion, as these products are not currently covered by the agreement.

In addition, the United States has stated that it will announce its tariff policy on pharmaceuticals in the next two weeks, imposing "massive" tariffs on non-U.S.-produced drugs. The United States has also set August 1 as the deadline for setting global reciprocal tariffs, after which they will officially take effect. The United States and China have different timelines for their negotiations, but the United States will complete the setting of reciprocal tariffs for all other regions by August 1.

Despite the preliminary framework agreement reached by the United States and the European Union, there are still many uncertainties in key areas. These unresolved issues may affect investors' confidence in the stability of U.S.-EU trade relations. The United States and the EU are expected to discuss the digital services tax and steel and aluminum trade issues. The United States has stated that it will continue to communicate with EU trade officials to discuss these issues. The EU hopes to include steel and aluminum in the discussion, as these products are not currently covered by the agreement.

In addition, the United States has stated that it will announce its tariff policy on pharmaceuticals in the next two weeks, imposing "massive" tariffs on non-U.S.-produced drugs. The United States has also set August 1 as the deadline for setting global reciprocal tariffs, after which they will officially take effect. The United States and China have different timelines for their negotiations, but the United States will complete the setting of reciprocal tariffs for all other regions by August 1.

The United States has stated that it will continue to communicate with EU trade officials to discuss these issues. The EU hopes to include steel and aluminum in the discussion, as these products are not currently covered by the agreement. The United States has also stated that it will announce its tariff policy on pharmaceuticals in the next two weeks, imposing "massive" tariffs on non-U.S.-produced drugs. The United States has also set August 1 as the deadline for setting global reciprocal tariffs, after which they will officially take effect. The United States and China have different timelines for their negotiations, but the United States will complete the setting of reciprocal tariffs for all other regions by August 1.