On 27 July 2025, the European Union (EU) and the United States (US) reached a non-binding trade agreement, following months of escalating tariff threats. The agreement capped tariffs at 15% on most European imports, compared to an average of 5% before Donald Trump’s election. Some elements of the trade deal remained unresolved and a Joint EU-US Statement issued on 21 August 2025
provided clarifications, though several issues are still subject to negotiations.

This Policy Flash is an update follows the July edition and takes into account the latest summer developments, with a focus on the July 27th trade agreement and the August 21st joint statement.

⇒ Access to the publication