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On 21 August, the European Union and the United States published a Joint Statement on a Framework Agreement on Reciprocal, Fair, and Balanced Trade, confirming and building on the political agreement reached by President von der Leyen and President Trump on 27 July.

The Framework Agreement establishes the terms of a new tariff regime. The U.S. has committed to place a maximum tariff of 15% on the vast majority of EU exports, including cars, pharmaceuticals, semiconductors and lumber. Sectors already subject to Most Favoured Nation tariffs of 15% or higher will not face additional duties. Certain products, such as cork, aircraft and parts, and generic pharmaceuticals, will be subject only to MFN tariffs from 1 September, with both sides pledging to expand this regime further. In return, the EU has agreed to remove tariffs on U.S. industrial goods and grant preferential access for a range of U.S. agricultural and seafood products, including dairy, pork, nuts and processed lobster.

Beyond tariffs, the agreement sets out deeper commitments to cooperate on energy, technology and defence. The EU has pledged significant procurement of U.S. liquefied natural gas, oil, nuclear products and AI chips, alongside commitments to expand defence procurement from the United States. European companies are expected to invest an additional €600 billion in the U.S. by 2028. Both sides will also deepen cooperation on standards recognition, cybersecurity, digital trade, labour rights, sustainability and supply chain security. On steel and aluminium, the EU and U.S. will explore solutions to prevent global overcapacity while safeguarding transatlantic supply.

While the EU remains cautious about the persistence of high tariffs, the agreement avoids escalation and protects an economic relationship worth over €1.6 trillion annually, supporting millions of jobs on both sides of the Atlantic. President von der Leyen emphasised that the agreement “restores clarity and coherence to transatlantic trade” and represents the first step in a broader process toward tariff reductions, enhanced cooperation and increased prosperity.

The European Commission has also published a Q&A on the agreement, clarifying its scope and implications for tariffs, market access, and regulatory cooperation, including on CBAM, the Corporate Sustainability Due Diligence Directive, and the EU Deforestation Regulation (EUDR). Notably, the U.S. will be treated as a low-risk country under EUDR, and the Commission stressed that no concessions have been made to U.S. exporters under CBAM or CSDDD, though discussions will continue on implementing flexibilities.

For freight forwarders and customs agents, the agreement comes against the backdrop of sweeping U.S. tariff reforms, including the suspension of the $800 de minimis threshold (see below) and the application of reciprocal tariffs to all trading partners. While the EU-U.S. framework provides welcome stability and predictability for transatlantic trade, it does not eliminate the additional compliance and administrative requirements now facing operators. CLECAT has advised its members to prepare for increased customs workload, stricter origin and classification controls, and the need to update contracts and client advisories in light of the evolving tariff and regulatory environment.

The Framework Agreement stabilises transatlantic trade for now, but the new rules still mean higher costs, tighter compliance, and a heavier workload for logistics providers. The Commission will now move swiftly, with the support of EU Member States and the European Parliament, to implement the agreement and prepare a legally binding accord. CLECAT will continue to monitor negotiations and update members as the deal moves from political agreement to binding legislation.

Source: European Commission