The EU has returned the draft joint statement on tariffs to the US

The European Commission has returned to the United States the draft joint statement on trade and tariffs, a Commission spokesperson reported at the daily briefing on Tuesday. According to the spokesperson, the document submitted by the American side last week has been sent back, while political consultations between EU Trade Commissioner Maroš Šefčovič and U.S. Secretary of Commerce Howard Latinik, as well as with U.S. Trade Representative James Greer, continue.

The EU and the U.S. agreed on a framework trade agreement at the end of July; so far, only a basic tariff of 15% has been implemented. The European side is still awaiting the issuance of executive orders from the White House that will specify exemptions from tariffs, particularly for the automotive sector.

For the residents and businesses of Cyprus, this means that some imported goods from the U.S. and from countries affected by the measures may continue to incur increased customs costs until the list of exemptions is finalized. Importers and car dealers should monitor official announcements from the EU and the U.S. administration closely: further decisions will determine which items will be exempted from additional tariffs and when changes in pricing could occur.