World adapts to China truce, US tariff revenue, inflation in check

BRUSSELS (Reuters) – The European Union could not say when a joint statement on tariffs with the United States would be ready, nor when the White House would issue an executive order on European car import duties, a spokesperson said on Tuesday.

The EU and U.S. reached a framework trade agreement at the end of July but only the 15% baseline tariff on European exports had so far come into effect, as of last week. EU officials previously said a joint statement would follow the deal “very soon” along with executive orders from U.S. President Donald Trump on key carve-outs.

“It is an agreement that we believe is strong and the best we could have … Of course, we expect the U.S. to take further steps that are part of this agreement but I don’t believe at this stage we can put a timeline on these engagements,” the European Commission spokesperson said.

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