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Investing.com -- The 15% tariff imposed on European Union goods entering the United States applies to all products except steel and aluminum, according to an EU official who spoke to Reuters on Tuesday.
The official clarified that this 15% rate is comprehensive and includes the Most Favoured Nation Rate, distinguishing the EU’s position from some other countries that have specific trade agreements with the U.S.
While pharmaceuticals and semiconductors currently enter the U.S. market duty-free, the official noted that if tariffs on these items increase due to ongoing U.S. Section 232 investigations, they would still be capped at 15%.
The 15% ceiling also applies to automobiles and automotive parts. The EU official emphasized that there are no quotas or volume limitations on cars and car parts exported from the EU to the United States.
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