The U.S. Chamber of Commerce to the European Union stated on Monday that the trade deal reached between Washington and Brussels represents a much-needed de-escalation, but that the 15% tariffs are a significant increase for many sectors.

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The organization also called for clarity on the technical aspects that still need to be worked out after the agreement made yesterday between European Commission President Ursula von der Leyen and U.S. President Donald Trump at the Turnberry golf course (Scotland), owned by the republican.

The United States will apply a 15% tariff on the imports of a large majority of European products, including automobiles, pharmaceuticals, and semiconductors. However, the tariffs on the latter two sectors will not come into effect until Washington completes its ongoing investigations into these goods under Section 232 of U.S. trade laws.

The organization also urged Brussels and Washington to expand the list of sectors that will be exempt from tariffs, which, according to the same sources, will include certain pharmaceutical and agricultural products that the U.S. depends on for imports due to difficulties in sourcing them from other markets.

The agreement also stipulates that the EU will spend $750 billion on U.S. energy products and invest an additional $600 billion in goods from the U.S., including military equipment, although neither party has yet specified details.

The aforementioned European sources explained that Brussels and Washington still need to finalize “in the coming days the technical aspects of the deal, to determine the full list of products on which the U.S. will apply tariffs.”

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