EU-US Trade Deal Nearing Finalization as New Tariffs Loom

As talks progress toward a new trade agreement between the European Union and the United States, significant developments have emerged regarding tariffs. European Commission President Ursula von der Leyen and U.S. President Donald Trump are reportedly close to finalizing a joint declaration that outlines the parameters of their recent negotiations. This declaration is anticipated to shed light on the informal agreements reached during their July 27 meeting at Trump's Turnberry resort in Scotland.

In a crucial move, Trump signed an executive order on July 31, 2025, imposing a new 15% tariff on EU imports, set to take effect on August 7, 2025. While the newly established tariff aims to reshape trade relations, it does not encompass all outstanding issues, particularly those affecting the automotive sector, which continues to face a staggering 27.5% export tax to the U.S.

A senior EU official has indicated that while the text of the joint declaration is nearly ready for publication, its completion is contingent on final confirmations from the U.S. side. This evolving trade dynamic highlights the tension between negotiating new terms while simultaneously implementing tariff measures, which could have substantial repercussions for exporters from both regions, including France.