Frédéric Pouchot, Agence France Presse, I have a question on trade.

The US administration yesterday announced a new regime of tariffs for a number of trading partners,

including 10% for EU goods.

I wanted to know how the Commission sees the justification given for these new tariffs,

which is insufficient legislation to tackle forced labor,

and today it will be me taking the trade questions, stepping in for Olof.

So you mentioned the trade tariffs that were announced yesterday by the US administration.

So first of all, just to provide the context,

these are the tariffs that are meant to replace the temporary tariffs that were imposed after the ruling of the Supreme Court. Those temporary tariffs were to expire today.

And hence the US yesterday announced a new regime of tariffs.

What is extremely important to note here, and before going into what exactly was the basis for these tariffs,

is to clarify that this new tariff regime for the EU,

which kicks in as of today, comprises a 10% all inclusive duty.

And it is in compliance with the US commitments in the EU US joint statement. Why?

Because the tariffs that are now imposed are well within the margins of the maximum 15% tariff ceiling agreed under the EU US Joint Statement.

So in other words, and again important to clarify this, with this new tariff regime,

all EU exports will either benefit from a lower or the same treatment as under the EU US deal and the 15% tariff ceiling.

It's also important in this context to remind that this new tariff regime fully Restore the additional tariff exemptions for the EU. This is something that we were expecting.

To see how it would develop when the US administration announces a new set of tariffs, it is confirmed that it fully restores the additional tariff exemptions for the EU,

so we note positively that what was announced yesterday is in line with the US tariff commitments that had been agreed between us and the US.

And when it comes to us we've said it before, we have already fulfilled our side of the deal with our tariff commitments,

which became effective on 1 July of this year.

And we expect that the US will continue to abide by the terms of this joint statement.

You mentioned the basis for this tariff regime,

which our US counterparts indicated is based on forced labor or trade originating from forced labor.

Here we have said it time and again, and we repeat,

we do not agree with the premise of the Section 301 investigation on forced labor.

We have communicated this to our US counterparts, and also in this context,

let me remind you that the EU already has robust rules in place on forced labor and therefore we fully reject the notion that the EU could be considered as contributing to the global problem of forced labor.

Any other questions on trade? Yes, please.