According to CCTV News, on September 24 local time, the Trump administration of the United States issued a formal announcement to implement the trade agreement reached between the United States and the European Union, confirming that from August 1, a 15% tariff will be imposed on EU imported cars and automobile products. In addition, the document also lists tariff exemptions for certain drug compounds, aircraft parts and other imported goods.
Image source: Visual China
On July 27, local time, US President Trump said that the United States has reached a new trade agreement with the EU and imposes a 15% tariff on EU goods imported to the US. European Commission President von der Leyen said the 15% tax rate is the best result the European Commission can achieve .
According to Xinhua News Agency on September 4, the European Commission passed the free trade agreement between the EU and the Southern Common Market (South Communist Party City) countries on the 3rd to seek to explore the Latin American market and make up for the trade losses caused by US tariff policies.
On the same day, the European Commission submitted the text of the agreement to the EU member states and the European Parliament for approval, and still needs to be approved by a “valid majority”. Given that France, Poland and other countries are worried that their agriculture will be affected by the products of the Southern Communist Party, the EU needs to eliminate internal discrepancies before finally finalizing the agreement.
The negotiations on the free trade agreement between the EU and the CPC began more than 20 years ago. In December last year, the presidents of the four founding member states of the CPC, Argentina, Brazil, Paraguay and Uruguay , and the President of the European Commission , von der Leyen, jointly announced the conclusion of the CPC-EU Free Trade Agreement.
If the agreement is successfully signed and implemented, a free trade zone covering approximately 700 million people will be generated. Under the agreement, the CPC will gradually impose zero tariffs on 91% of EU goods, which currently have a maximum tariff rate of 35%. In exchange, the agricultural powers of the Southern Comang City, led by Brazil, can export meat, sugar, honey, soybean and other products to the EU with more relaxed conditions.
The European Commission estimates that if the agreement is implemented, the EU’s annual exports to the CPC will increase by up to about 49 billion euros (about 57 billion US dollars).
The CPC Southern City was founded by Argentina, Brazil, Paraguay and Uruguay. It was officially launched in 1995 and Bolivia officially joined in 2023. The organization also has Chile, Peru, Colombia, Ecuador, Guyana, Suriname, Panama and other contact countries.
