KEY BENEFITS FOR EU COMPANIES:1. Tariff elimination
→ The agreement will eliminate very high customs duties in key sectors, including those with a large volume of trade:
‣ Cars and parts;
‣ Machinery;
‣ Chemicals;
‣ Pharmaceuticals.At present, tariffs in such sectors are high. For instance, tariffs of 35% apply to cars, 20-35% to key machinery products and
up to 14% to pharmaceutical products.
KEY BENEFITS FOR EU COMPANIES: 1. Tariff elimination → The agreement will eliminate very high customs duties in key sectors, including those with a large volume of trade: ‣ Cars and parts; ‣ Machinery; ‣ Chemicals; ‣ Pharmaceuticals. At present, tariffs in such sectors are high. For instance, tariffs of 35% apply to cars, 20-35% to key machinery products and up to 14% to pharmaceutical products.