A tentative trade deal between the United States and the European Union announced July 27 just days before significant tariff hikes were set to take effect has received an early upbeat reaction from US agriculture groups. US President Donald Trump and European Commission President Ursula von der Leyen announced the agreement, revealing a 15% tariff on most European goods entering the United States, including automobiles, chemicals and electronics.
While this agreement avoided the harsher 30% rate previously threatened, many details remain unclear, especially for specific farm products. The deal itself, however, offered a measure of relief for US agriculture groups eager to grow trade access in Europe.
Overall, the EU is the fourth largest market for total exports of US agricultural products, according to the US Department of Agriculture (USDA), with a total value of $12.85 billion. Read more