The United States and European Union have agreed on a “joint statement” providing additional details of the trade deal that they announced last month, but the two sides still face weeks or months of additional negotiations to iron out their remaining issues.

White House officials hailed the statement as an important step toward fleshing out the commitments reached by President Donald Trump and European Commission President Ursula von der Leyen at their impromptu July summit.

The three-and-a-half page statement confirms that the United States will impose a 15% tariff on most European products. The United States now has agreed to lower its 25% tariff on imported cars to 15% for European vehicles once the E.U. introduces legislation to eliminate its already-low tariffs on American industria

See Full Page