EU Official: The 15% Tariff Imposed by the US on the EU Is an All-Inclusive Tariff

According to a report by Jinse Finance, EU officials stated on Tuesday that the 15% tariff imposed on EU goods entering the United States is all-inclusive and incorporates the most-favored-nation rate, which differs from some other countries that have agreements with the US. The official noted that the 15% rate applies to all goods except steel and aluminum. Currently, tariffs on pharmaceuticals and semiconductors are zero, but if these goods are subject to increases due to the US Section 232 investigation, the tariffs will not exceed 15%. This 15% cap also applies to automobiles and auto parts, which are not subject to quotas or restrictions.