Aug. 21 (UPI) -- The European Union and the United States announced the details of their tariff agreement Thursday, with new details about pharmaceuticals and semiconductors.
The two sides came to an agreement last month after weeks of negotiations. The deal includes 15% blanket tariffs on EU exports to the United States. Under the deal, the EU also agreed to buy $750 billion in U.S. energy and invest at least an additional $600 billion in the United States.
Political and business leaders at the time expressed concern that the agreement isn't balanced and that it isn't clear how it will affect tariffs on particular industries that President Donald Trump has already put in place.
After the announcement, EU Trade Commissioner Maros Sefcovic told reporters that "this is the most favorable trade deal the U.S. has extended to any partner."
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