The US and EU have reached a tentative agreement to impose a 15% tariff on certain goods, averting a worst-case scenario. While a joint statement was initially expected by August 1st, its release is delayed due to unresolved details and conflicting information in separate fact sheets released by the White House and European Commission. The discrepancy centers around the timing of the 15% tariff on pharmaceuticals and semiconductors, contingent on further US investigations.

Prepared by Christopher Adams and reviewed by editorial team.