The European Union and the United States have formalised their joint declaration on tariffs, following the political agreement reached on July 27 in Scotland between Ursula von der Leyen and Donald Trump. For Italy, the agreement avoids a trade war, provides certainty for businesses, and creates room for new exemptions—starting with the agri-food sector—alongside a future negotiation on steel and aluminum.

After Monday’s White House summit between U.S. and European leaders on Ukraine and European security guarantees, today, the trade agreement between Washington and Brussels has also been ratified. The new tariff regime sets a 15% maximum, comprehensive rate for most EU exports to the U.S., covering strategic sectors such as automobiles, pharmaceuticals, semiconductors, and timber.