European Council: Nearly 70% of EU exports to US subject to additional tarrifs

Although the US has suspended special tariffs on European goods until August 1, numerous goods exported from European Union (EU) countries across the ocean are already subject to various additional tarrifs, Report informs.

This was reflected in the European Council's declaration on the results of the EU trade ministers' meeting held in Brussels.

The statement notes that the US currently applies certain tariffs to the EU.

"These are 10% basic tariff, as well as an additional 50% on steel and aluminum, and an additional 25% on automotive products. As a result of this US trade policy, approximately 70% of EU exports to the US are currently affected by various additional tariffs from Washington," reads the document.