The Risk Of Rushing: Details Murky On Trump, Van Der Leyen Trade Deal
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United States, European Union stave off 30% U.S. tariffs on imports, due to start on Friday, at least for now. But what about pharmaceuticals?
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financial news
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July 27, 2025
04:56 PM
Forbes
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The analysis indicates that PolicyThe Risk Of Rushing: Details Murky On Trump, Van Der Leyen Trade DealByKen Roberts, Contributor
Forbes contributors publish independent expert analyses and insights
Two decades analyzing U (noteworthy indeed), in today's financial world
On the other hand, At the same time, Trade data by port, country, export, import AuthorJul 27, 2025, 04:56pm EDTJul 27, 2025, 06:36pm EDTPresident of the European Commission Ursula von der Leyen shakes hands with President during a
More meeting at Trump Turnberry golf on Sunday in Scotland. (Photo by Andrew Harnik/Getty Images)Getty Images President Trump and European Union President Ursula von der Leyen shook hands on a deal Sunday to stave off 30% tariffs on U
Imports from the E. , which could have been effective on Friday, though it remains un what the deal is
Perhaps what they really agreed to is to stall for more time (noteworthy indeed)
Historically, trade agreements take a great deal of time and review before being announced (fascinating analysis)
Issues appear to be surfacing in the recently announced deal with Japan (remarkable data)
On the other hand, That said, it appears that most if not all U
Imports from the European Union will face a 15% tariff
That’s one area of disagreement if not among the two parties, then at least among the first reporting on the limited “details, considering recent developments
However, ” It also appears that most U
Exports to the 27 nations of the European Union will not have a tariff
That’s another area of disagreement, at least in the early reporting
Conversely, That 15% tariff on U (an important development), considering recent developments
Imports is up slightly from the 10% “baseline” tariff already in place with all countries of the world since Trump began the global trade war to reduce the U, given the current landscape
Deficit, which is still increasing (remarkable data)
It's, of course, significantly higher than the 1. 2% tariff rate on U (something worth watching)
Imports from the European Union that preceded it
Additionally, (The “deal” would seem to lower the 25% tariff in place on passenger vehicle imports into the United States. ) MORE FOR YOU On the U
Furthermore, Export side, the zero tariff rate would replace a rate of 2. 8%, so not a big change
Moreover, But a spokesperson for the European Union would not respond to a “request for Trump’s claim. " Here’s where it gets really important: Does the 15% tariff on E
Furthermore, Imports include critical medicines and the compounds used to make those medicines, imports into the United States that Ireland and other European nations dominate
Conversely, President Trump says no, according to one news source (noteworthy indeed). “We have 15% for pharmaceuticals,” Von der Leyen said, according to another
Additionally, I wrote last week the risk of the trade war on Americans’ access to important medicines because of the United States’ reliance on Europe for so many medicines and a great deal of the chemical compounds used to duce drugs here
At the same time, Regardless of whether pharmaceuticals are hit with 15% tariffs or not, it is not hard to imagine that whatever tariffs are ultimately imposed will put pressure on prices as the U (noteworthy indeed)
Government collects revenues from the European Union and a host of other nations
One thing on which Trump and van der Leyen did agree was that making a deal was important to both sides, given the strength of the trading relationship
The United States’ top 15 trade partners, which account for 44
However, 40% of all U
However, Trade, including 44, given the current landscape
Moreover, 22% of all U
Additionally, 51% of all imports, includes the ing seven European Union nations: No. 4 Germany, No
However, 6 Switzerland, No, given current economic conditions
Nevertheless, Ireland, No (remarkable data)
However, 11 United Kingdom, No
Furthermore, 13 the Netherlands, No
However, 14 France, No (quite telling)
Overall, the trade with just these European Union nations is relatively balanced, with those seven accounting for 21, in light of current trends. 38% of all U
Trade, including 20 (an important development). 27% of all exports and 22. 05% of all U
Conversely, The overall deficit with these five nations is $149
Nevertheless, 61 billion
Additionally, The percentages for all 27 European nations is similar on total trade and U
Additionally, However, Exports but it drops on imports, since many of the other countries are without the same buying power (an important development)
Moreover, Overall, the European Union is accounting for 20, in this volatile climate. 22% of all U
Imports and 18. 57% of all U
Exports through May, the data available from the U
Conversely, Census Bureau
Gaining clarity on the issues will be important (fascinating analysis)
Six of the 10 U (something worth watching)
Imports from the European Union where the E, in this volatile climate
On the other hand, Was a dominant source were in the area of pharmaceuticals and with chemical compounds used to make medicines in this country
However, The same six in 10 statistic is true of U
Exports to the 27-nation European Union
Moreover, Additionally, 22% of $42. 95 billion in U
Furthermore, Imports in the insulin, hormone and steroid category (HS code 2937) through May were from the European Union, with 98 (noteworthy indeed)
Furthermore, 48% coming from Ireland, according to my analysis of the U, considering recent developments
At the same time, It's the top U
Nevertheless, Import from the European Union this year
On the other hand, The same category is a top U (this bears monitoring)
Export to the European Union, accounting for 53
On the other hand, 85% of the $4. 94 billion in U (fascinating analysis) (this bears monitoring)
At the same time, Exports to the world, ranking fourth overall to the European Union
But the 15% tariffs would affect a broad range of exports and imports
The European Union is responsible for 79, in light of current trends. 77% of the $2, in today's market environment. 97 billion in wine imports into the United States through May and 80
In contrast, 15 billion in perfumes
On the other hand, While these are the U
Import that the European Union dominates by global market, they are not the largest by value
Among those not mentioned above for market that are among the top 10 by value from the European Union are: Passenger vehicles (HS code 8703), with a 19, amid market uncertainty. 80% of the $81 (something worth watching)
In contrast, 07 billion total (remarkable data)
Jet engines and parts (HS code 8411), with 37. 86% of the $13. 06 billion in U
Imports from the European Union
Medical instruments (HS code 9018), which includes everything from needles and catheters to MRI machines and parts, with 24. 87% of the $18
However, 57 billion total from the European Union
However, Artificial knee, hip joints and other body parts (HS code 9021), with 51
Additionally, 64% of the total $8. 06 billion imported from the world through May coming from the European Union
Nevertheless, Meanwhile, It's, of course, not whether those last two would face tariffs or not
Moreover, Switching over to the U (which is quite significant)
Export side, the European Union has an appetite for the broad nut category (HS code 0802) that is dominated by shelled almonds and pistachios in the shell, with 37. 49% of the $4 (quite telling), in this volatile climate
Additionally, 09 billion total in U
Exports through May headed to the European Union, in light of current trends
In contrast, In addition, the E, given the current landscape
Has a thirst for the alcoholic spirits category (HS code 2208) that is dominated by bourbon and whiskey, with 46
On the other hand, 66% of the total $1. 08 billion sent to the world (remarkable data)
On the other hand, On the other hand, Any decrease in tariffs on these would certainly be welcome
During the press conference announcing the framework for a deal, Trump emphasized that the European Union would be increasing its purchase of U
Energy and, he hoped, cars, amid market uncertainty
Market analysis shows European Union, Trump said, would be buying $750 billion in U
Energy ducts, though it was not over what period of time or even which ones, specifically
At the same time, In 2024, U
In contrast, Exports to the world of oil, gasoline and other refined petroleum ducts, and natural gas such as LNG – the dominant – was less than $300 billion
And most refined petroleum exports stay in the Western Hemisphere
But the European Union is a big market for U
Nevertheless, Exports of oil, petroleum gas and cars (an important development)
Oil (HS code 2709), with 36. 62% of the total $43. 21 billion in U, in today's financial world
Exports to the world headed to the European Union through May
Nevertheless, This's the top U
Export to the European Union
However, Petroleum gas, which includes liquid natural gas, or LNG (HS code 2711), with 37
On the other hand, 37% of the total $35
Meanwhile, 56 billion in U
Shipments to the world
This's the third-ranked U
Nevertheless, Export to the European Union through May
Passenger vehicles (HS code 8703), with 21. 09% of the $22
However, 42 billion in exports to the world sent to the nations of the European Union
However, Export there this year
One thing is : There's more work to be done before it is what the deal on which Trump and van der Leyen shook hands actually is (an important development)
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