Trump tones down tariffs on European imports

Marketplace Morning Report

American Public Media

News, Business

4.5 • 808 Ratings

🗓️ 22 August 2025

⏱️ 7 minutes

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Summary

From the BBC World Service: A trade agreement between the United States and the European Union means that U.S. tariffs on imported European goods will be significantly lower than previously thought. The U.S. will cap tariffs on European cars, pharmaceuticals, and semiconductors at 15%. That's a huge decrease from prior threats of levies as high as 250%. Plus, it's the Edinburgh Festival Fringe in Scotland, showcasing drama, comedy, and music. The tourism provides an economic boost, but also makes things pricier. How are folks there dealing?

Transcript

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0:00.0	Donald Trump tones down US tariffs on imports from Europe.
0:05.7	Live from the UK, this is the Marketplace Morning Report from the BBC World Service.
0:10.2	I'm Guy Kilty, infalli Anna Byrne. Good morning.
0:14.0	President Trump has backed down from threats of huge import tariffs on pharmaceuticals and computer chips brought in from the European Union.
0:21.2	The details have been outlined as part of an agreement between the US and the EU,
0:24.6	which means they will be significantly lower than previously thought.
0:28.3	The BBC's Surinjana-Tawari can tell us more.
0:31.3	It seems that the EU may be subject to only 15% tariffs on pharmaceuticals and semiconductors.
0:39.6	And that is if the EU in return make sure that some US products,
0:46.5	including things like seafood and American agriculture,
0:50.1	will have no tariffs when they're trying to be sold in the European Union.
0:55.5	We also got some detail about cars, a reduction from 27.5% tariffs reduced to 15%
1:03.6	again if the EU and only if the EU stick to the promises in the trade agreement.
1:10.9	But the sense we're getting from all of this,
1:13.5	now that the details are slowly coming out, is a sense of certainty.
1:17.7	So analysts are saying that this US-EU announcement of the details
1:22.9	could be some sort of template for other countries in this region
1:27.3	who are trying to sort of
1:28.8	decipher what their trade deals mean.
1:31.4	The BBC's Surinjana Tuari.
1:33.7	European carmakers have been particularly worried about these tariffs.
1:36.7	As we just heard, they're set to drop from 27.5% to 15% as part of these details.
	...

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