We have reached a deal on tariffs and trade with the US.

Todays deal brings stability and predictability for citizens and businesses on both sides of the Atlantic. As the two largest economies in the world, we trade USD 1.7 trillion annually. Together, we represent a market of 800 million people and nearly 44% of global GDP. This agreement follows the NATO summit, reaffirming our transatlantic partnership.

We have established a single 15% tariff rate for most EU exports, covering sectors like cars, semiconductors, and pharmaceuticals. This rate is a clear ceiling with no stacking, providing essential clarity for our citizens and businesses.

Additionally, we agreed on zero-for-zero tariffs for strategic products, including aircraft, certain chemicals, and critical raw materials, and will continue to expand this list.

In addressing global overcapacity in steel and aluminium, we will collaborate to ensure fair competition and reduce barriers by cutting tariffs and implementing a quota system.

We will enhance energy cooperation by diversifying our energy sources, replacing Russian supplies with US LNG, oil, and nuclear fuels.

US AI chips will support our AI gigafactories and help the US maintain its technological edge.

This deal creates predictability for our businesses, allowing them to plan and invest amid turbulent times. Immediate tariff relief will positively impact company bottom lines, securing access to our largest export market while improving access for American products in Europe. This framework will facilitate further tariff reductions and cooperation on economic security, demonstrating the tangible benefits of EU-US partnership.

We are also shaping a robust foreign economic policy, starting from home. We are taking bold steps to boost Europes competitiveness and innovation, leveraging our Single Market of 450 million consumers.

We are expanding global trade partnerships, having recently concluded negotiations with Mercosur, Mexico, and Indonesia. In an unpredictable world, Europe remains a reliable partner committed to safeguarding prosperity.

I would like to thank President Trump for his commitment and leadership in achieving this breakthrough. I also extend my gratitude to Commissioner Maroš Šefčovič and his team for their dedication and effort. Our Member States trust and unity is our strength, and we will continue to work for the benefit of all Europeans.

Thank you.