The U.S. will impose a 15% tariff on imports of European cars, pharmaceuticals and other products, according to a joint statement announced Thursday by the Trump administration and European Union.

American and European Union officials released a bare-bones account Thursday of their trade deal that imposes a 15% import tax on 70% of European goods exported to the United States, but they left blank key areas such as wine and spirits as well as steel and indicated that talks would continue on those and a slew of other important

The European Union has escaped a potential 250% pharmaceutical tariff and instead has secured a maximum 15% levy with the U. S.