EU ready to accept new US tariffs if they stay within 15% cap

The European Union has signalled its willingness to accept new US tariffs expected after the current regime lapses, as long as they remain under the 15% cap set by the Turnberry trade agreement signed in July 2025. US officials have announced that new duties will be imposed in the coming days over insufficient efforts to curb trade in goods produced with forced labour, which they say harms US commercial interests.

The current US tariff regime, introduced after a Supreme Court ruling, expires on 24 July, and congressional approval for an extension is considered unlikely ahead of the midterm elections. US Trade Representative Jamieson Greer said on Tuesday that implementation of forced labour tariffs is imminent, and an investigation under Section 301 of the Trade Act of 1974 is nearing conclusion.

A senior EU official stated that while the EU disagrees with the US findings on forced labour, the main objective is to ensure the Turnberry agreement is respected so that companies can benefit from stability and predictability. The European Commission had previously called such tariffs unjustified but now appears to see no better alternative than upholding the agreement.