According to Trump, the new tariffs are a fair measure against countries that "have exploited the US for many years."
Thus, billions of dollars in customs revenues from Europe will now be directed to the US budget. Previously, 30% tariffs were discussed, but they were set at 15%, though for steel and aluminum, this figure remains at 50%.
The European Union, however, has temporarily halted retaliatory measures. These include €93 billion in counter-tariffs, $600 billion in investments into the US, and $750 billion in energy product purchases.
Additionally, the European Union is prepared to abolish tariffs on US automobiles.
