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“… The newly published version is not a legally enforceable pact, but it is a step toward one.
Its backbone remains unchanged: The United States will maintain a 15 percent tariff on most goods arriving from E.U. member countries, a rate that Mr. Trump officially imposed in an executive order that took effect earlier this month.
In a win for Europe, that rate applies to some of its biggest exports, including pharmaceuticals, many of which will remain taxed at 15 percent even after the United States finalizes an expected set of tariffs for foreign-made medicines that could be as high as 200 percent.
… Cars are more complicated. The United States will not immediately relax for Europe tariffs it has imposed worldwide on foreign-made vehicles, currently set to 27.5 percent for European carmakers. Rather, the two sides agreed that the United States would lower those tariffs to 15 percent only after Europe takes steps to follow through on its commitments to lower tariffs on imported American goods.
Specifically, the bloc must “formally” introduce legislation that would relax duties on industrial goods and agricultural products, including bison, tree nuts, dairy and many types of seafood, before lower car levies will kick in….”
