‘It’s worse than it was 12 months ago, but it’s better than it was two weeks ago,’ says Jason Hungerford (pictured right), head of international trade at Mayer Brown’s London office, following the conclusion of EU-US trade negotiations.
Announced at the end of July, the agreement will impose a 15% tariff on the majority of European imports to the US, meaning the EU will avoid the much higher tariffs roiling global markets, including 35% for Canada and 39% for Switzerland.
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