The US and Europe are locked in a dispute over the details of the tariff agreement.

The US and Europe have significant differences on key trade agreement details, with pharmaceutical tariffs becoming a major obstacle in negotiations. According to Xinhua News Agency, US President Trump and European Commission President Ursula von der Leyen jointly announced a new US-EU trade agreement at Turnberry Golf Course in South Ayrshire, Scotland, on the 27th. After an informal meeting with von der Leyen, Trump revealed some details of the new agreement, including a 15% US tariff on EU exports, an additional $600 billion in EU investment in the US, and $750 billion in US energy purchases. Separately, media reports indicate that while the US and EU have reached a preliminary consensus on a 15% tariff rate, there are discrepancies in the terms of the agreement in areas such as pharmaceuticals, steel, and aluminum. After their meeting on Sunday, Trump stated that pharmaceutical products were not included in the agreement, suggesting this sector could face higher tariffs. Von der Leyen clarified that the EU had agreed to a 15% tariff on pharmaceutical products. Senior US officials later clarified that the two sides had indeed reached a consensus on a 15% tariff on EU pharmaceutical exports, but that the US would still launch a Section 232 investigation into the pharmaceutical sector within the next three weeks. On the issue of steel and aluminum tariffs, Trump insisted that the 50% rate "remains unchanged," while von der Leyen stated that "tariffs will be reduced and quotas will be introduced." US officials later confirmed to the media that EU steel and aluminum exports were not covered by the agreement and that these products would continue to be subject to the 50% tariff. The framework of the agreement lacked specific details. Following the agreement, von der Leyen stated that it provided certainty and stability for businesses on both sides of the Atlantic. However, compared to trade agreements that typically require years of negotiation and thousands of pages of text, the preliminary agreement reached between the US and Europe appears too brief. According to Carsten Nickel, deputy director of research at Teneo: "Focus will now turn to risks at the level of interpretation and implementation, which involve a mix of political and technical issues. Given the nature of the agreement, significant uncertainty is likely to persist." The United States has launched an investigation to assess whether imports of certain products, such as aerospace and semiconductors, pose a threat to national security, which could lead to additional tariffs on certain industries. According to media reports citing senior US officials, the aerospace tariff will remain at 0%, pending the results of the 232 investigation.